The ISM U.S. Manufacturing PMI® jumped to 50.3 percent in March, up 2.5 percentage points from the 47.8 percent figure recorded in February. The reading put U.S. manufacturing into growth territory for the first time since October of 2022.
The Manufacturing PMI® for January was reported at 49.1 percent in the latest Manufacturing ISM® Report On Business® released by the nation’s supply executives. The figure represented a two-percentage-point increase from December’s figure of 47.1 percent but remained in contraction territory.
ISM reported a U.S. Manufacturing PMI of 47.4 percent for December to push up slightly from the November reading of 46.7 percent. Despite the improvement, the report from ISM says the figure indicates a 14th consecutive month of contraction for U.S. manufacturers.
ISM® reported a U.S. Manufacturing PMI® of 46.7 percent in November matching the same figure in October. The stagnant readings for both months halted a three-month uptrend from July through September that seemed to show U.S. manufacturing on track to move above the 50 percent mark before year-end. According to the report issued by Timothy R. Fiore, Chair of the ISM® Manufacturing Business Survey Committee, demand remains soft and production execution is slightly down compared to October as U.S. companies continue to manage outputs, material inputs and labor costs.
By Phillip M. Perry
High-interest rates and slower economic growth will put increasing pressure on business profits in 2024. The good news is that economists expect the Federal Reserve to lower inflation to desired levels by the end of the year. Robust housing activity, high employment and optimistic consumers will help the nation sidestep a recession.
The ISM® US Manufacturing PMI® registered 49 percent in September, 1.4 percentage points higher than the 47.6 percent recorded in August. According to the report issued by Timothy R. Fiore, Chair of the ISM® Manufacturing Business Survey Committee, the overall economy expanded weakly after nine months of contraction following a 30-month period of expansion.
The ISM® US Manufacturing PMI® was reported at 46.9 percent for May, down slightly from the 47.1 percent reading in April. The figure represented a seventh consecutive month in contraction territory for US manufacturers and continued and overall downward trend that dates back to November of 2021.
The February ISM® Report On Business® issued a PMI reading of 47.7 percent for US manufacturers to end a five-month downward streak. The number was up three-tenths over the January figure of 47.4 percent.
