S&P Global US Manufacturing PMI in United States

S&P Global · Monthly (flash + final) · Importance

56.0 (Oct-26) ABS · index · Monthly · CSV

Recessions COVID recession

Period	index
Oct 2026	56.0
Sep 2026	57.0
Aug 2026	53.2
Jul 2026	53.8
Jun 2026	53.9
May 2026	55.1

Period	index
Oct 2026	-1.0

Period	index
Oct 2026	3.8

About this indicator

Source

S&P Global Market Intelligence

Frequency

Monthly (flash + final)

Release

Flash around the 22nd-24th of the same month; final on the first working day of the following month. 09:45 ET (13:45 UTC).

What it is

The S&P Global Manufacturing PMI (formerly IHS Markit) is a diffusion index built from a survey of around 800 purchasing managers in US manufacturing. A reading above 50 signals expansion; below 50, contraction. Each month there is a flash (preliminary) reading, based on most of the responses, and a final one that revises it.

How it's calculated

A weighted composite of five sub-indices: new orders (30%), output (25%), employment (20%), suppliers' delivery times (15%) and stocks of purchases (10%). The data are seasonally adjusted.

Market implications

The flash reading is one of the first signals of the month on the US industrial cycle and moves markets more than the final print, which usually confirms it. It complements the ISM manufacturing index. A strong reading tends to support the dollar and Treasury yields; a weak one does the opposite.

Limitations

A qualitative survey that measures the direction of change, not its magnitude. It can diverge from the ISM manufacturing index, which uses a different sample and methodology, so the two should not be conflated.