The Institute for Supply Management (ISM) provides valuable data that reveals current trends in the U.S. manufacturing economy.
The Institute for Supply Management (ISM) provides valuable data that reveals current trends in the U.S. manufacturing economy.
The Institute for Supply Management (ISM) is a leading global nonprofit organization for supply management. Founded in 1915, ISM brings together 50,000 members from 100 countries who manage approximately $1 trillion in corporate and government procurement annually.
The monthly “ISM Report on Manufacturing” is one of the most reliable economic indicators for supply management professionals, economists, analysts, and business and government leaders.
The report includes the highly important Manufacturing Purchasing Managers’ Index (PMI), based on data collected from purchasing and supply professionals. Participants report activity across several categories, such as new orders, inventories, and production. These indexes are then combined to create the PMI. A PMI reading above 50 indicates overall growth in the manufacturing economy, while a reading below 50 indicates contraction.
In March 2024, U.S. manufacturing activity increased for the first time in 16 months. The ISM PMI stood at 50.30, up from 47.80 in February and 46.30 one year earlier.
U.S. Manufacturing Purchasing Managers’ Index, 2023–2024
According to ISM data, new orders in the U.S. manufacturing sector totaled $576.76 billion in February 2024, up from $568.57 billion in January and $571.26 billion one year earlier — increases of 1.44% and 0.96%, respectively.
New Orders in the U.S. Manufacturing Sector, 2023–2024
The ISM U.S. Manufacturing Employment Index stood at 47.40 in March 2024, indicating a slower pace of contraction compared with February’s 45.90 and the year-earlier reading of 46.90.
U.S. Manufacturing Employment Index, 2023–2024
The Institute for Supply Management provides valuable data and analytical materials that help improve understanding of current trends and conditions in the U.S. manufacturing economy.
