United States Business Confidence

Last Release

Mar 31, 2025

Actual

Units In

Points

50.3

Frequency

Monthly

Next Release

May 01, 2025

Time to Release

28 Days 15 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 49 in March 2025 from 50.3 in February, below forecasts of 49.5. The reading pointed to the first contraction in factory activity in three months, after expanding only marginally in February. New orders (45.2 vs 48.6), backlog of orders (44.5 vs 46.8) and employment (44.7 vs 47.6) contracted faster and production also declined (48.3 vs 50.7) while price pressures soared to the highest since June 2022 (69.4 vs 62.4). Meanwhile, inventories rebounded (53.4 vs 49.9) and supplier deliveries (53.5 vs 54.5) indicated a continued slowing of deliveries. “Demand and production retreated and destaffing continued, as panelists’ companies responded to demand confusion. Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery slowdowns and manufacturing inventory growth", Timothy Fiore, Chair of the ISM Manufacturing Business Survey Committee said.