ISM Manufacturing Index for FEBRUARY 2026

The Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for February, 2026:

=========

Predicted: 52.0%

• Actual: 52.4% (-0.2 point month-on-month change)

=========

Previous month: 52.6%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector expanded in February for the second straight month but only the third time in 40 months, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report....."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

• “Today, American produced commodities like steel and aluminum are the highest priced in the world, by far. Hence, the Section 232 tariff policy is having the exact opposite effect of their intention on an American manufacturer like us: It is raising prices while lowering demand and profitability.”
   [Transportation Equipment]

• “Economic activity seems to be also challenging for this year. Some recovery in certain sectors in the economy but still lot of cost pressures and soft demand. Cost discipline is the priority.”
   [Chemical Products]
  

• “January sales continued to provide positive indications for growth opportunities. Data center, health care, and food and beverages remain positive growth areas. We continue to receive price increase notifications from suppliers based on unsupported tariff claims and are expanding corporate staff to support sales growth.”
   [Chemical Products]
  

• “South American instability has begun to be a factor for our suppliers and inventory management.”
   [Petroleum & Coal Products] 

• “Pricing for outside purchases has stabilized. We are spending significant effort to work with our supply base to mitigate tariff impacts. Backlog is at a healthy level.”
   [Miscellaneous Manufacturing] 

• “Overall orders and supply footprint are improving. As we review customer demand, we are also taking several categories of established materials and supplies out to RFP for review and cost improvements -- in particular, printed circuit assemblies, plastics, sheet metal assemblies and motorized assemblies. This will help ease the burden of tariff and customer impacts as we broaden our supplier base to a more regional footprint.”
   [Computer & Electronic Products]
  

• “Continue to be impacted by tariffs. Seeing metals prices rise too. Business is steady, but domestic growth is slower than expected.”
   [Computer & Electronic Products] 

• “Business was slow in January. Many orders pulled into end of 2025 to meet revenue goals. Order book is strong going forward.”
   [Electrical Equipment, Appliances & Components] 

• “Tariff policy changes affect total acquisition costs and purchasing source decisions. So far this year, tariff instability still exists. Due to the tariffs, most raw materials used in manufacturing, such as steel and wire, need to be sourced domestically, and the cost keeps going up.”
   [Machinery] 

• “Business is improving by the week. Backlog is growing, and new opportunities are everywhere. Monthly shipments are still lower than planned, but improving. Over the past five years, we spent thousands trying to attract new employees and had almost zero responses. In the last six months, however, we’ve been able to hire experienced engineers, computer numerical control (CNC) operators, and young people wanting to become CNC machinists.”
   [Fabricated Metal Products]

==========

CHART: ISM Manufacturing Index

February 2026 Update

=========

DATA: ISM Manufacturing Index

12-Month History
February 2026 Update

=========

=========

• Click here to view the complete ISM report

=========

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U.S. Factory Shipments During DECEMBER 2025

The U.S. Census Bureau this morning released their report on Manufacturers' Shipments, Inventories and Orders -- also known as Factory Orders -- for December, 2025:

========

Predicted: -0.5%

• Actual: -0.7% (-4,332,000,000)

========

• December, 2025 New Orders: $617,527,000,000.
  
  
• November, 2025 New Orders: $621,859,000,000.
  

========

• Change from 12 Months Ago (Year-on-Year):
  
  +$36,571,000,000 | +6.24% (not seasonally adjusted)
  

 ========

The yellow-highlighted percentage is the seasonally adjusted, month-to-month change in new shipments for both durable and nondurable goods made by U.S. manufacturers. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=============

CHART: U.S. Factory Orders

DECEMBER 2025 Update

=============

• Click here to view the full Census Bureau report.

=============

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Industrial Production + Manufacturing + Capacity Utilization During JANUARY 2026

The Industrial Production, Manufacturing and Capacity Utilization numbers for January, 2026 were released by the Federal Reserve:

Industrial Production:
Previous Month (revised): +0.2%
Actual: +0.7% Month-on-Month (M/M)

• Year-on-Year (Y/Y): +2.3%
  
  --> Y/Y Previous: +2.0%
  
  

Manufacturing:
Previous Month (revised): FLAT
Actual:  +0.6% (M/M)

• Y/Y : +2.4%
  
  --> Y/Y Previous: +2.0%
  
  

Capacity Utilization Rate:
Previous Month (revised): 75.7%
Actual:  76.2% (M/M)

• Y/Y : +1.4%
  
  --> Y/Y Previous: +1.5%

===============

CHART: Industrial Production
+ Manufacturing
+ Capacity Utilization
JANUARY 2026 UPDATE

 

===============

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===============

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ISM Manufacturing Index for JANUARY 2026

The Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for January, 2026:

=========

Predicted: 49.0%

• Actual: 52.6% (+4.7 points month-on-month change)

=========

Previous month: 47.9%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector expanded in January for the first time in 12 months, preceded by 26 straight months of contraction, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report...."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

•      ' ‘Hope’ has been word of the year in the Transportation Equipment industry. Unfortunately, all the hope in the world has not materialized into order activity in 2025 or the first half of 2026. Across the board, buyers continue to stand on the sidelines. As we enter 2026, every conversation revolves around hope that the second half of 2026 starts the turnaround. It’s hard to set strategy on hope, but thanks to the uncertainty brought about by this administration, here we are.'
   [Transportation Equipment] 

•     'Although our volume is low at the moment, the impact on the latest tariff threats on the European Union will have a huge negative impact on our profit for current quoted orders. We will not be able to recover the increase tariffs in our current quotations.'
   [Machinery] 

•     'Continuing softness in the market, with December orders below average and buyers reluctant to spend despite beneficial tax policies in the U.S. Geopolitical tensions are fueling ‘anti-American’ buyer sentiment, and sales are being lost.'
   [Machinery] 

•     'Another round of emotionally charged tariffs seems imminent, changing the landscape once more. Movement of custom product out of China continues, but the progress is slow with new qualifications required for transitioned materials and assemblies.'
   [Computer & Electronic Products] 

•     'Business conditions remain uncertain. Customers are cautious. Broad-based inflation continues. The Supreme Court tariff decision looms.' [Computer & Electronic Products] 

•     'Growing construction markets, data centers and energy projects, are straining the contract labor availability. The trade tariff uncertainty is creating volatility in the supply chain.'
   [Food, Beverage & Tobacco Products] 

•     'A new year, with new challenges. We are moving manufacturing from China to Mexico -- which will now impose tariffs on parts made in China. This push for more of a Mexican supply chain and creates some short-term supply management concerns.'
   [Chemical Products] 

•     'Confused and uninformed tariff policies continue to plague small companies, making long-term planning pointless. Companies are not making capital commitments beyond 30 days.'
   [Fabricated Metal Products] 

•     'Business conditions remain soft as we continue to miss sales, orders and profits as result of increased costs from tariffs, continued fallout from the government shutdown, and increased global uncertainty.'
   [Miscellaneous Manufacturing] 

•     'Business trends moving into 2026 feature many of the headwinds from the third and fourth quarters of 2025. While the ‘plane’ has steadied, there continues to be uncertainty and added costs through our global operations.
  
  Tariff impacts on our financial performance last year cannot be overstated, as we had a much smaller EBITDA (earnings before interest, taxes, depreciation and amortization) than previous years. While other inflationary pressures continue to hit the business, tariffs and product costs played a large role. This year, we will continue our multi-country sourcing approach to manufacture and import product from more tariff-friendly countries outside of China. 
  
  But as we know, nothing is guaranteed with the current administration. We have trimmed costs everywhere inside the business, including on labor and conferences, and reduced our revenue forecast to a much more achievable mark. We’re prepared to battle throughout the year for higher profitability.'
   [Apparel, Leather & Allied Products]
  

==========

CHART: ISM Manufacturing Index
January 2026 Update

=========

DATA: ISM Manufacturing Index

12-Month History
January 2026 Update

=========

=========

• Click here to view the complete ISM report

=========

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Industrial Production + Manufacturing + Capacity Utilization During DECEMBER 2025

The Industrial Production, Manufacturing and Capacity Utilization numbers for December, 2025 were released by the Federal Reserve this morning:

Industrial Production:
Previous Month (revised): +0.4%
Actual: +0.4% Month-on-Month (M/M)

• Year-on-Year (Y/Y): +2.0%
  
  --> Y/Y Previous: +2.5%
  
  

Manufacturing:
Previous Month (revised): +0.3%
Actual:  +0.2% (M/M)

• Y/Y : +2.0%
  
  --> Y/Y Previous: +1.9%
  
  

Capacity Utilization Rate:
Previous Month (revised): 76.1%
Actual:  76.3% (M/M)

• Y/Y : +1.5%
  
  --> Y/Y Previous: +1.5%

===============

CHART: Industrial Production
+ Manufacturing
+ Capacity Utilization
DECEMBER 2025 UPDATE

 

===============

• Click here to view the full Federal Reserve report

===============

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ISM Manufacturing Index for DECEMBER 2025

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for December, 2025:

=========

Predicted: 48.0%

• Actual: 47.9% (-0.3 point month-on-month change)

=========

Previous month: 48.2%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector contracted in December for the 10th consecutive month, following a two-month expansion preceded by 26 straight months of contraction, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report..."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

•     'Winding up the year with mixed results. It has not been a great year. We have had some success holding the line on costs; however, real consumer spending is down and tariffs are ultimately to blame. I hope for some return to free trade, which is what consumers have ‘voted for’ with their spending.'
   [Chemical Products]
  

 

•     'Trough conditions continue: depressed business activity, some seasonal but largely impacted by customer issues due to interest rates, tariffs, low oil commodity pricing and limited housing starts.'
   [Machinery]
  

 

•     'Things are quieter regarding tariffs, but prices for all products remain higher. Our costs have increased, so we have increased prices for our customers to compensate. Margins have deteriorated, as full pass through (of cost increases) is not possible.'
   [Computer + Electronic Products]
  

 

•     'Things are not improving in the transportation equipment market. Many customers are ordering for 2026, but those orders are 20 percent to 30% below their historical buying patterns. Some large fleets are still completely on hold for 2026, with zero capital expenditures money available to fleet budgets. Truck rental utilization, which is a good benchmark for the health of the economy, is still below historically stable levels. The general mood of the industry is that the first half of 2026 will be another bust, and we’re now hoping things pick up in the second half, even as the North American truck fleet continues to age.'
   [Transportation Equipment]
  

 

•     'In the current environment, our company is struggling with customer orders and financially overall. Our senior leaders are struggling to focus our business and get the company on track with quality products. In November, layoffs impacted about 9% of our workforce, affecting all locations in the U.S. and Europe.'
   [Machinery]
  

 

•     'Orders continue to drop for most of our businesses. Many plants are not running near full capacity. Make to order being utilized where possible.'
   [Chemical Products]
  

 

•     'Order levels have continued to decline: We had a bad October, an awful November and a dismal December. January and February don’t look too good, as bookings are down 25 percent compared to the first two months of 2025.'
   [Fabricated Metal Products]
  

 

•     'Morale is very low across manufacturing in general. The cost of living is very high, and component costs are increasing with folks citing tariffs and other price increases. It’s cold in our area of the country, absenteeism is worse around the holidays, and sales were lower than we expected for November. So, things look a bit bleak overall.'
   [Electrical Equipment, Appliances + Components]
  

 

•     'Global logistics remains sensitive to geopolitical shifts. Tariffs are influencing equipment pricing and procurement strategies. Large-scale data center programs are absorbing and reducing availability of resources for other sectors.' 
  [Food, Beverage + Tobacco Products]
  

 

•     '2025 revenue was down 17 percent due to tariffs. The lost revenue has inhibited our ability to offer bonuses to employees or create and hire for new positions.'
   [Miscellaneous Manufacturing]
  

==========

CHART: ISM Manufacturing Index
December 2025 Update

=========

DATA: ISM Manufacturing Index

12-Month History
December 2025 Update

=========

=========

• Click here to view the complete ISM report

=========

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Industrial Production + Manufacturing + Capacity Utilization During November 2025

The Industrial Production, Manufacturing and Capacity Utilization numbers for November, 2025 were released by the Federal Reserve this morning:

Industrial Production:
Predicted: +0.1%
Actual: +0.2% month-on-month (M/M)

• Year-on-Year (Y/Y): +2.5%
  
  

Manufacturing:
Predicted: FLAT
Actual:  FLAT (M/M)

• Y/Y : +1.9%
  
  

Capacity Utilization Rate:
Predicted: 75.9%
Actual:  76.0% (M/M)

• Y/Y : +1.5%

The "predicted" figures are what economists were expecting, while the "actual" is the true or real figure.

From Today's Report:

"...This release includes preliminary estimates for industrial production (IP) and capacity utilization for both October and November as well as revised estimates for May through September. IP rose 0.2% in November after ticking down 0.1% in October. On average, IP rose 0.1 percent per month across October and November, the same as the rate of increase in September and a somewhat slower average pace than the past 12 months.

Manufacturing output was flat in November after dropping 0.4% in October. There were swings in both mining and utilities output over October and November, though, on net, both sectors posted gains. At 101.8% of its 2017 average, total IP in November was 2.5% above its year-earlier level.

Capacity utilization was 76.0 percent in November, a rate that is 3.5 percentage points below its long-run (1972–2024) average..."

===============

CHART: Industrial Production
+ Manufacturing
+ Capacity Utilization
NOVEMBER 2025 UPDATE

 

===============

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===============

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U.S. Factory Shipments During SEPTEMBER 2025

The U.S. Census Bureau this morning released their report on Manufacturers' Shipments, Inventories and Orders -- also known as Factory Orders -- for September, 2025:

========

Predicted: +1.4%

• Actual: +0.192% (+1,172,000,000)

========

• September, 2025 New Orders: $612,636,000,000.
  
  
• August, 2025 New Orders: $611,464,000,000.
  

========

• Change from 12 Months Ago (Year-on-Year):
  
  +$32,570,000,000 | +5.38% (not seasonally adjusted)
  

 ========

The yellow-highlighted percentage is the seasonally adjusted, month-to-month change in new shipments for both durable and nondurable goods made by U.S. manufacturers. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=============

CHART: U.S. Factory Orders
SEPTEMBER 2025 Update

=============

• Click here to view the full Census Bureau report.

=============

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ISM Manufacturing Index for NOVEMBER 2025

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for November, 2025:

=========

Predicted: 48.0%

• Actual: 48.2% (-0.5 point month-on-month change)

=========

Previous month: 48.7%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector contracted in November for the ninth consecutive month, following a two-month expansion preceded by 26 straight months of contraction, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report..."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

•     'New order entries are within the forecast. We have increased requests from customers to get their orders sooner. Transit time on imports seems to be longer.'
   (Machinery)
  

•     'We are starting to institute more permanent changes due to the tariff environment. This includes reduction of staff, new guidance to shareholders, and development of additional offshore manufacturing that would have otherwise been for U.S. export.'
   (Transportation Equipment) 

•     'Tariffs and economic uncertainty continue to weigh on demand for adhesives and sealants, which are primarily used in building construction.'
   (Chemical Products) 

•     'No major changes at this time, but going into 2026, we expect to see big changes with cash flow and employee head count. The company has sold off a big part of the business that generated free cash while offering voluntary severance packages to anyone.'
   (Petroleum + Coal Products) 

•     'Business conditions remain soft as a result of higher costs from tariffs, the government shutdown, and increased global uncertainty.'
   (Miscellaneous Manufacturing) 

•     'The unstable market has made pricing fluctuate in a very volatile way; I have had to reduce suppliers for raw materials to maintain a better direct cost structure. Reducing my suppliers has reduced the availability of some items and created longer lead times.'
   (Fabricated Metal Products) 

•     'Business continues to be a struggle regarding long-term sourcing decisions based on tariffs and landing costs. External (or international) sourcing remains the lowest-cost solution compared to U.S. production/manufacturing. The delta is smaller now, reducing margins.'
   (Computer + Electronic Products) 

•     'The government shutdown has impacted our access to agricultural data, impacting agricultural markets and, as a result, decisions we make. Optimism for a tariff exemption on palm oil percolated but hasn’t come to fruition at this time.'
   (Food, Beverage + Tobacco Products) 

•     'Trade confusion. At any given point, trade with our international partners is clouded and difficult. Suppliers are finding more and more errors when attempting to export to the U.S. -- before I even have the opportunity to import. Freight organizations are also having difficulties overseas, contending with changing regulations and uncertainty. Conditions are more trying than during the coronavirus pandemic in terms of supply chain uncertainty.'
   (Electrical Equipment, Appliances + Components) 

•     'Domestic and export business have been lackluster. Our customers are taking prompt orders only and still don’t have confidence to build inventory, much less make expansion plans. In fact, most of any kind of ‘planning’ has been undermined by unpredictability due to inconsistent messaging from Washington. Artificial intelligence is in its infancy stages, producing confusing and most often inaccurate information. This also causes apprehensive consumer buying patterns, contributing to the challenge of forecasting demand.'
   (Wood Products)
  

==========

CHART: ISM Manufacturing Index
November 2025 Update

=========

DATA: ISM Manufacturing Index

12-Month History
November 2025 Update

=========

=========

• Click here to view the complete ISM report

=========

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U.S. Factory Shipments During August 2025

The U.S. Census Bureau this morning released their report on Manufacturers' Shipments, Inventories and Orders -- also known as Factory Orders -- for August, 2025:

========

Predicted: +1.4%

• Actual: +1.4% (+8,444,000,000)

========

• August, 2025 New Orders: $612,030,000,000.
  
  
• July, 2025 New Orders: $603,586,000,000.
  

========

• Change from 12 Months Ago (Year-on-Year):
  
  +$12,385,000,000 | +2.04% (not seasonally adjusted)
  

 ========

The yellow-highlighted percentage is the seasonally adjusted, month-to-month change in new shipments for both durable and nondurable goods made by U.S. manufacturers. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=============

CHART: U.S. Factory Orders
AUGUST 2025 Update

=============

• Click here to view the full Census Bureau report.

=============

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ISM Manufacturing Index for OCTOBER 2025

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for October, 2025:

=========

Predicted: 49.0%

• Actual: 48.7% (-0.4 point month-on-month change)

=========

Previous month: 49.1%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector contracted in October for the eighth consecutive month, following a two-month expansion preceded by 26 straight months of contraction, say the nation's supply executives in the latest ISM® Manufacturing PMI® Report..."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

•     'Business continues to remain difficult, as customers are cancelling and reducing orders due to uncertainty in the global economic environment and regarding the ever-changing tariffs landscape.'
   (Chemical Products)
  

•     'Decrease in domestic demand for finished products has resulted in slower manufacturing and an increase of raw material in inventory.'
   (Petroleum & Coal Products)
  

•     'In general, business is really strained. Money is sitting tighter, and geopolitical changes add to the uncertainty/risk factor. Even medical fields are feeling the pressure.'
   (Miscellaneous Manufacturing)
  

•     'Sales continue to underperform in our automotive OEM and industrial divisions. Our aerospace and automotive aftermarket are the only areas performing slightly above budget. This is the third month of lower-than-expected sales, and the remainder of the year outlook is not looking better. Sales are expected to be slightly less than in 2024.'
   (Fabricated Metal Products)
  

•     'Tariffs continue to be a large impact to our business. The products we import are not readily manufactured in the U.S., so attempts to reshore have been unsuccessful. Overall, prices on all products have gone up, some significantly. We are trying to keep up with the wild fluctuations and pass along what costs we can to our customers.'
   (Machinery)
  

•     'The commercial vehicle (CV) market remains depressed as customers continue to delay vehicle purchases. Uncertainty in price and transportation demand remains the center of attention. U.S. trade policy and reciprocal actions by China in the form of export controls on rare earths and semiconductors, as well as ocean freight carrier restrictions, have once again caused a lot of stress in supply lines. The CV industry is now bracing for the next round of tariffs focused on commercials vehicles, scheduled to begin on November 1.'
   (Transportation Equipment)
  

•     'The tariff trade war has negatively impacted agricultural export markets, driving down demand and price. This negatively impacts farmer revenue and the likelihood of farmers investing in new equipment.'
   (Machinery)
  

•     'The unpredictability of the tariff situation continues to cause havoc and uncertainty on future pricing/cost. But even with the tariffs, the cost to import in many cases is still more attractive than sourcing within the U.S. Challenges with tariffs on production equipment necessary for internal production makes it difficult to justify expansion of capacity.'
   (Computer & Electronic Products) 

•     'Volatility in some of our highly exposed commodity markets has tempered a bit, thanks to improved weather conditions and overall downward pressure on pricing. Tariffs continue to remain difficult to quantify, manage and deal with in general, since they continue to impact us day-to-day and our bottom line.'
   (Food, Beverage & Tobacco Products) 

•     'Wonder has turned to concern regarding how the tariff threats are affecting our business. Orders are down across most divisions, and we’ve lowered our financial expectations for 2025.'
   (Chemical Products)

==========

CHART: ISM Manufacturing Index
October 2025 Update

=========

DATA: ISM Manufacturing Index
12-Month History
October 2025 Update

=========

=========

• Click here to view the complete ISM report

=========

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