US Manufacturing Pushes Up In May

The May PMI for US Manufacturers was reported at 56.1 percent in the latest ISM® Report On Business®. The figure was up from the April reading of 55.4 percent and ended a three-month downward trend. The figure also indicates a 24th straight month of expansion for the overall US economy after the contraction in 2020 sparked by the pandemic.

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US Manufacturing Still Strong Despite Challenges

The March PMI for US Manufacturers was reported at 57.1 percent in ISM’s® March Report On Business®. The figure was down 1.5 percentage points from the February reading of 58.6 percent and the lowest reading for the index since September of 2020. However, the figure still indicates a 22nd straight month of expansion for the overall US economy.

“The US manufacturing sector remains in a demand-driven, supply chain-constrained environment,” says Timothy R. Fiore, Chair of the ISM® Manufacturing Business Survey Committee.  “In March, progress was made to solve the labor shortage problems at all tiers of the supply chain, which will result in improved factory throughput and supplier deliveries. Panelists reported lower rates of quits and early retirements compared to previous months, as well as improving internal and supplier labor positions.”

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US Factory Activity Dips in January

Despite a 20-month streak of growth for the overall economy, ISM’s® January Report On Business® showed a 1.2 percent drop to a PMI of 57.6 percent for US manufacturers. While still in positive territory, the figure was the second straight month to register a decline and it also represented the lowest mark since November 2020.

“Manufacturing performed well for the 20th straight month, with demand and consumption registering month-over-month growth,” says Timothy R. Fiore, Chair of the ISM® Manufacturing Business Survey Committee. “Meeting demand remains a challenge, due to hiring difficulties and labor turnover at all tiers. For the third month in a row, Business Survey Committee panelists’ comments suggest month-over-month improvement on hiring, offset by backfilling required to address employee turnover at a higher rate, supplier performance and improvements in the transportation sector.”

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US Manufacturers See 2.4 Percent PMI Decline for December

ISM® has reported December Manufacturing PMI® of 58.7 percent for US manufacturers, a decrease of 2.4 percentage points from the November reading of 61.1 percent. This figure indicates expansion in the overall economy for the 19th month in a row after a contraction in April 2020.

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Global PMI Readings Show Decline in August

With many regions experiencing supply chain issues and labor shortages, most of the global manufacturing countries tracked by Brushware saw a decline in PMI readings for August compared to July. Italy was the only country that showed an improved PMI reading. Despite the challenges, business optimism remained strong across most of the regions and countries tracked.

GERMANY: IHS Markit/BME reported a 62.6 percent August PMI for German manufacturers for a 3.3 percent drop from the previous month. Supply shortages caused output to significantly fall behind new orders. Increasing price pressure reduced business optimism, but employment rose for a sixth straight month as manufacturers looked to expand capacity. 

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ISM Reports Uptick For US Manufacturers

Overall US Economy Has 15th Consecutive Month of Growth

ISM® is reporting a manufacturing PMI® of 59.9 percent for US manufacturers for the month of August  an increase of 0.4 percentage points from the July reading of 59.5 percent. Despite the improvement, ISM panelists from the report say their companies and suppliers continue to struggle at unprecedented levels to meet increasing demand.

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German Manufacturing Stays Near Record Levels

Global manufacturers saw varying results in the month of July as many countries face new headwinds with COVID-19 outbreaks hitting specific regions. Additionally, lead times are still extended with supply chain issues continuing. Firms are also facing labor challenges that pre-date the pandemic but have escalated during the past 18 months. Both issues lead to inflationary pressure with most regions reporting input and output price increases. Still, all countries in our report remain above the crucial 50 percent PMI line, but business confidence overall for manufacturers is slipping as companies weigh the impact of prolonged issues from the COVID-19 Delta variant.

GERMANY: IHS Markit/BME reported a PMI of 65.9 percent for German manufacturers in July, which represented a second straight month of growth and the third-highest figure on record. New orders were strong and led to a sharp increase in backlogs. Employment also saw a big increase.

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Labor Challenges Cited as US Manufacturing PMI Dips to 59.5 Percent

Overall US Economy Has 14th Consecutive Month of Growth

US manufacturers registered a 59.5 percent PMI® according to the July Manufacturing ISM® Report On Business®. That was down 1.1 percentage points from the June reading of 60.6 percent and the lowest reading since January. In the report, Timothy R. Fiore, Chair of the ISM® Manufacturing Business Survey Committee says Business Survey Committee panelists reported that their companies and suppliers continue to struggle to meet increasing demand levels.

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