ISM Manufacturing PMI (US)
Event Date: Wednesday, October 4, 2023
Event Time: 14:00 CET
Updated Sunday, October 1, 2023
The ISM non-manufacturing PMI fell to 49.1 points in March 2020, as businesses started to close on coronavirus, but was expected fall deep into contraction in April, although it beat expectations of 35 points, coming at 41.5 points, while in May this indicator increased to 43.1 points. In June we saw a large jump to 52.6 points though. By August this indicator increased to 56 points, but it cooled off in September to 55.4 points, although it has surged back up in October and November to 57.5 points. In December we saw a jump to 60.7 points, but it cooled off in January this year. In February services cooled off further to 55.3 points, while it kept increasing in March and February to 64.7 points but cooled off to 60.7 points in April. In July and August, it cooled off to 59.5 points, but in September it increased to 61.1 points where it stayed until December but has declined to 52.8 points and it cooled further to 50.9 points in September. October came at 50.0 points while November fell in contraction at 49.0 points. May came at 46.9 points while June fell to 46.0 points, although we're expected to see an improvement to 46.9 points. Please follow us for live coverage of this event by experienced market analysts.
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About ISM Manufacturing PMI (US)
Developed by the Institute for Supply Management (ISM), the ISM Manufacturing PMI provides a look at the conditions facing the U.S. industrial sector. The metric is derived using a 0-100 scale. Basic interpretations include a value over 50 being viewed as positive toward the USD and under 50 negative.A top three global economic power, the United States relies greatly upon domestic manufacturing for economic output. With industrial production accounting for nearly 20% of aggregate GDP, the manufacture of goods is a big part of the U.S. economy. The ISM Manufacturing PMI offers an inside view of the ongoing progress of the manufacturing sector.