The S&P Global US Manufacturing PMI increased to 52.4 in January 2026, above the preliminary estimate of 51.9 and up from December’s five-month low of 51.8. The latest reading points to a firmer pace of expansion in manufacturing activity, broadly in line with the survey’s long-run average. Output rose sharply, marking the strongest increase since last August and the joint-fastest pace since May 2022. New orders posted a modest rebound, though overall demand remained constrained by a seventh straight monthly decline in export orders, reflecting the impact of tariffs and persistent trade uncertainty. Hiring remained positive but job growth eased to a three-month low. On the inflation front, input cost pressures strengthened, while manufacturers raised selling prices at the fastest pace since August. Business confidence was unchanged, with geopolitical risks and rising costs continuing to weigh on the outlook. source: S&P Global

Manufacturing PMI in the United States increased to 52.40 points in January from 51.80 points in December of 2025. Manufacturing PMI in the United States averaged 53.03 points from 2012 until 2026, 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.

Manufacturing PMI in the United States increased to 52.40 points in January from 51.80 points in December of 2025. Manufacturing PMI in the United States is expected to be 52.00 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 51.00 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
ISM Manufacturing PMI 52.60 47.90 points Jan 2026
Chicago Fed National Activity Index -0.04 -0.42 points Nov 2025
Dallas Fed Manufacturing Index -1.20 -11.30 points Jan 2026
Factory Orders MoM 2.70 -1.20 percent Nov 2025
Kansas Fed Manufacturing Index -2.00 -3.00 points Jan 2026
Manufacturing Production YoY 2.00 2.20 percent Dec 2025
NY Empire State Manufacturing Index 7.70 -3.70 points Jan 2026
Philadelphia Fed Manufacturing Index 12.60 -8.80 points Jan 2026


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. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
US Manufacturing PMI Signals Stronger Expansion in January
The S&P Global US Manufacturing PMI increased to 52.4 in January 2026, above the preliminary estimate of 51.9 and up from December’s five-month low of 51.8. The latest reading points to a firmer pace of expansion in manufacturing activity, broadly in line with the survey’s long-run average. Output rose sharply, marking the strongest increase since last August and the joint-fastest pace since May 2022. New orders posted a modest rebound, though overall demand remained constrained by a seventh straight monthly decline in export orders, reflecting the impact of tariffs and persistent trade uncertainty. Hiring remained positive but job growth eased to a three-month low. On the inflation front, input cost pressures strengthened, while manufacturers raised selling prices at the fastest pace since August. Business confidence was unchanged, with geopolitical risks and rising costs continuing to weigh on the outlook.
2026-02-02
US Manufacturing Shows Modest Momentum in January
The S&P Global US Manufacturing PMI inched up to 51.9 in January 2026, virtually unchanged from December’s 51.8 and broadly in line with market expectations of 52, according to preliminary data. Despite the slight uptick, the index continued to point to the second-weakest improvement in factory business conditions since July, as employment growth slowed to a six-month low. Output growth, however, accelerated to its strongest pace since last August, while new orders rebounded after declining in December. Supplier delivery times lengthened, though at a more moderate pace, and inventories of purchased inputs remained broadly unchanged.
2026-01-23
US Manufacturing Growth Slows in December
The S&P Global US Manufacturing PMI was confirmed at 51.8 in December 2025, down from 52.2 in November, marking the weakest expansion in the current five-month growth phase. New orders declined for the first time in a year, while exports fell for a seventh consecutive month, weighed down by tariffs and trade frictions. Output growth also moderated, even as firms continued to build inventories for a fifth straight month, though at a slower pace than November’s record accumulation. Employment rose solidly as manufacturers filled vacancies in anticipation of stronger conditions in 2026. On the price front, input cost inflation eased to an 11-month low but remained historically elevated, while selling price increases slowed to their weakest pace since early 2025, still running above long-term norms. Overall business confidence deteriorated, reflecting softer order inflows and persistent uncertainty surrounding tariffs and trade policy.
2026-01-02