- Prior month 52.6
- ISM Manufacturing PMI 52.4 vs 51.8 estimate
DETAILS:
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Manufacturing PMI®: 52.4 vs 52.6 last month
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New Orders: 55.8 vs 57.1 last month
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Production: 53.5 vs 55.9 last month
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Employment: 48.8 vs 48.1 last month
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Supplier Deliveries: 55.1 vs 54.4 last month
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Inventories: 48.8 vs 47.6 last month
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Customers’ Inventories: 38.8 vs 38.7 last month
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Prices Paid: 70.5 vs 59.0 last month
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Backlog of Orders: 56.6 vs 51.6 last month
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New Export Orders: 50.3 vs 50.2 last month
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Imports: 54.9 vs 50.0 last month
Summary:
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7 components were above the 50 expansion level, signaling growth:
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Manufacturing PMI®
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New Orders
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Production
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Supplier Deliveries
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Prices
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Backlog of Orders
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Imports
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3 components were below 50, indicating contraction:
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Employment
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Inventories
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Customers’ Inventories
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8 components increased vs last month:
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Employment
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Supplier Deliveries
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Inventories
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Customers’ Inventories
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Prices
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Backlog of Orders
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New Export Orders
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Imports
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3 components declined vs last month:
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Manufacturing PMI®
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New Orders
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Production
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Takeaway:
The ISM details show manufacturing activity still expanding overall (majority above 50), but forward-looking demand components softened, while price pressures reaccelerated sharply. The combination points to slower growth momentum alongside renewed inflation pressures — a mix that could keep policy expectations cautious and markets sensitive to incoming inflation data.
This article was written by Greg Michalowski at investinglive.com.