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United States Business Confidence
Last Release
Oct 31, 2024
Actual
46.5
Units In
Points
Previous
47.2
Frequency
Monthly
Next Release
Dec 02, 2024
Time to Release
29 Days 11 Hours
Highest | Lowest | Average | Date Range | Source |
77.5 Jul 1950 | 29.4 May 1980 | 52.87 Points | 1948-2024 | Institute for Supply Management |
The Manufacturing ISM Report On Business® is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, Customers' Inventories, Employment and Prices), the report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction, and the diffusion index. A PMI™ reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally declining.
Latest Updates
The ISM Manufacturing PMI unexpectedly fell to 46.5 in October 2024 from 47.2 in September and below forecasts of 47.6. The reading pointed to the another contraction in the manufacturing sector and the worst since July 2023, as demand continues to be weak, output declined, and inputs stayed accommodative. Production (46.2 vs 49.8), inventories (42.6 vs 43.9) and backlog of orders (42.3 vs 44.1) fell faster and price pressures intensified (54.8 vs 48.3). Also, new orders (47.1 vs 46.1) and employment (44.4 vs 43.9) continued to decline but at a slower pace. Companies cited continuing efforts to right-size workforces to levels consistent with forecasted demand. Meanwhile, supplier deliveries improved (52 vs 52.2).
United States Business Confidence History
Last 12 readings