United States Manufacturing PMI

Last Release

Mar 31, 2024

Actual

52.5

Units In

Points

52.2

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
63.4 Jul 2021	36.1 Apr 2020	53.39 Points	2012-2024	Markit Economics

In the United States, the Markit Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 600 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Latest Updates

The S&P Global US Manufacturing PMI rose to a 21-month high of 52.5 in March 2024 from 52.2 in February, beating market forecasts of 51.7, preliminary estimates showed. The reading pointed to a solid improvement in the health of the manufacturing sector, helped by sharper expansions in output and employment. Also, suppliers’ delivery times continued to recover from the disruption to supply chains seen at the start of the year, shortening for the second month. Despite the marked pick-up in manufacturing production, firms scaled back their purchasing activity in March following a marginal rise in February. Anecdotal evidence suggested that inventories had been built to a level sufficient to support current workloads, leading to efforts to draw down stocks. In fact, stocks of both purchases and finished goods were reduced following increases in the previous survey period. The fall in stocks of purchases was the sharpest since last November.