The S&P Global US Manufacturing PMI fell to 47 in August 2023 from 49 in July, below market expectations of 49.3, preliminary data showed. The latest reading signalled a solid deterioration in operating conditions midway through the third quarter. The decline was the second-sharpest since January, primarily driven by a renewed decrease in output and a more pronounced drop in new orders. The decrease in new sales led to manufacturers scaling back their operations, resulting in a faster reduction in input buying. The substantial decline in purchasing activity reflected a decreased need to store both materials and finished goods, consequently leading to a further reduction in manufacturing inventories. Despite the reduced demand, vendor performance improved, albeit to the smallest extent since February. Some companies noted that a shortage of drivers at suppliers hindered efforts to shorten delivery times, contributing to this improvement. source: Markit Economics

Manufacturing PMI in the United States averaged 53.54 points from 2012 until 2023, reaching an all time high of 63.40 points in July of 2021 and a record low of 36.10 points in April of 2020. This page provides the latest reported value for - United States Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Manufacturing PMI in the United States is expected to be 48.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Manufacturing PMI is projected to trend around 53.00 points in 2024 and 52.00 points in 2025, according to our econometric models.

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United States Manufacturing PMI



Related Last Previous Unit Reference
Services PMI 51.00 52.30 points Aug 2023
Manufacturing PMI 47.00 49.00 points Aug 2023
Business Confidence 46.40 46.00 points Jul 2023
Composite PMI 50.40 52.00 points Aug 2023
Manufacturing Production -0.68 -0.92 percent Jul 2023
Factory Orders 2.30 0.40 percent Jun 2023
Philadelphia Fed Manufacturing Index 12.00 -13.50 points Aug 2023
NY Empire State Manufacturing Index -19.00 1.10 points Aug 2023
Dallas Fed Manufacturing Index -17.20 -20.00 points Aug 2023
Chicago Fed National Activity Index 0.12 -0.33 points Jul 2023
Kansas Fed Manufacturing Index 12.00 -20.00 points Aug 2023

United States Manufacturing PMI
The S&P Global US Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 800 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
47.00 49.00 63.40 36.10 2012 - 2023 points Monthly
SA

News Stream
US Factory Sector Shrinks More than Expected: S&P Global
The S&P Global US Manufacturing PMI fell to 47 in August 2023 from 49 in July, below market expectations of 49.3, preliminary data showed. The latest reading signalled a solid deterioration in operating conditions midway through the third quarter. The decline was the second-sharpest since January, primarily driven by a renewed decrease in output and a more pronounced drop in new orders. The decrease in new sales led to manufacturers scaling back their operations, resulting in a faster reduction in input buying. The substantial decline in purchasing activity reflected a decreased need to store both materials and finished goods, consequently leading to a further reduction in manufacturing inventories. Despite the reduced demand, vendor performance improved, albeit to the smallest extent since February. Some companies noted that a shortage of drivers at suppliers hindered efforts to shorten delivery times, contributing to this improvement.
2023-08-23
US Manufacturing PMI Confirmed at 49: S&P Global
The S&P Global US Manufacturing PMI was confirmed at 49 in July of 2023, signalling the softest decline in operating conditions in the manufacturing sector in three months. New orders declined again as domestic and external demand conditions remained muted. Also, a challenging sales environment led firms to scale back their input buying, causing inventory holdings to be depleted strongly. Despite a sharp fall in backlogs of work as new orders dropped, companies expanded employment at a faster rate amid greater confidence in the outlook for output. Meanwhile, firms reported a renewed rise in raw material costs, albeit only marginal overall. Selling prices, however, were broadly stable for a second month running as manufacturers sought to remain competitive and drive sales.
2023-08-01
US Manufacturing PMI Beats Estimates at 3-Month High
The S&P Global US Manufacturing PMI increased to 49 in July of 2023 from a six-month low of 46.3 in June, beating forecasts of 46.2, flash estimates showed. The reading signalled the slowest deterioration in operating conditions in the manufacturing sector in the current three-month sequence of decline, amid broadly unchanged output levels and a smaller drop in new orders. Despite a slower contraction in new sales, manufacturers registered further decreases in input buying and holdings of both pre- and post-production inventories. Rates of reduction were strong overall, as firms sought to trim stocks further and engage in cost-cutting efforts amid muted domestic and international demand conditions. Weak demand for inputs led to another decrease in supplier delivery times, as vendor performance improved solidly and to a greater extent than in June.
2023-07-24