United States Business Confidence

Last Release

Feb 28, 2025

Actual

50.3

Units In

Points

50.9

Frequency

Monthly

Next Release

Apr 01, 2025

Time to Release

26 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
77.5 Jul 1950	29.4 May 1980	52.86 Points	1948-2025	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 fell to 50.3 in February 2025 from 50.9 in January, below forecasts of 50.5. The reading pointed to a slower growth in the manufacturing sector as "demand eased, production stabilized, and destaffing continued as companies experience the first operational shock of the new administration’s tariff policy. Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery stoppages and manufacturing inventory impacts", Timothy Fiore, Chair of the ISM said. New orders fell the most since March 2022 (48.6 vs 55.1). Employment (47.6 vs 50.3) also fell into contraction territory and production slowed sharply (50.7 vs 52.5). In addition, price pressures accelerated to the highest since June 2022 (62.4 vs 54.9). Meanwhile, inventories were basically stable (49.9 vs 45.9) and backlog of orders contracted less (46.8 vs 44.9) while supplier deliveries (54.5 vs 50.9) indicated further slowing deliveries.