United States Manufacturing PMI

Last Release

Jul 31, 2024

Actual

49.5

Units In

Points

51.6

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
63.4 Jul 2021	36.1 Apr 2020	53.31 Points	2012-2024	Markit Economics

In the United States, the Markit Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 600 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Latest Updates

The S&P Global Flash US Manufacturing PMI unexpectedly declined to 49.5 in July 2024, the lowest reading so far this year, compared to 51.6 in June and forecasts of 51.7. The reading signaled a deterioration in business conditions within the goods-producing sector amid falls in new orders, production and inventories. A reduced rate of employment growth also acted as a drag. Meanwhile, suppliers’ delivery times lengthened marginally, though the lengthening was only very marginal. On the price front, prices charged for goods leaving the factory gate rose the least for a year but input prices rose at a faster pace due in part to raw materials, energy and logistics. Finally, business sentiment ticked up from June’s 19-month low, often linked to the expansion of capacity and the anticipation of demand improving over the coming year, especially after the election.