The S&P Global US Manufacturing PMI increased to 46.8 in January of 2023 from 46.2 in December, beating market forecasts of 46, preliminary estimates showed. Still, the reading continued to point to another contraction in factory activity which was the second-fastest since May 2020 as manufacturing demand conditions remained subdued. Output contracted following another sharp drop in new order inflows, with firms highlighting the impact greater costs were having on client demand. The rate of decline in new business was the second-fastest in over two-and-a-half years and firms cut their workforce numbers for the first time since July 2020. On the price front, input costs increased at a faster pace, ending a sequence of moderation in cost inflation that began in mid-2022 while output prices also rose. Vendor performance deteriorated only marginally, with supply chain disruption much reduced from that seen in 2022. source: Markit Economics
Manufacturing PMI in the United States averaged 53.83 points from 2012 until 2023, reaching an all time high of 63.40 points in July of 2021 and a record low of 36.10 points in April of 2020. This page provides the latest reported value for - United States Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
Manufacturing PMI in the United States is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.