Overview
A purchasing managers' index for US manufacturing compiled by S&P Global, with 50 as the expansion/contraction line. Published as a preliminary 'flash' and a final reading for the current month. It is a separate manufacturing PMI from the ISM series, with a different survey method and sample.
Sources & links
Latest release
S&P Global's final US Manufacturing PMI for August 2026, released on September 1, 2026, came in at 53.9, revised upward from the flash estimate of 53.2 and unchanged from July's reading of 53.9. Survey data were collected between August 12 and 25, 2026, and the index remained above the 50-point expansion threshold for a consecutive month.
Both output and new orders continued to expand, though growth rates eased compared to the prior month. Supply chain pressures persisted, with delivery times lengthening markedly; firms cited the Middle East conflict and tariff uncertainty as primary contributing factors. In response, manufacturers continued to build inventories, with finished goods stocks rising at the fastest pace since May and backlogs increasing for a sixth straight month.
Business confidence climbed to a three-month high, underpinning the fastest pace of hiring seen so far in 2026. Input cost inflation, driven by energy prices and tariffs, remained elevated, prompting firms to continue passing higher costs on to customers.
Past release articles
S&P Global released the flash US Manufacturing PMI for July 2026 at 53.8 points on July 24, 2026. The reading edged down from June's 53.9 but remained comfortably above the 50-point threshold that separates expansion from contraction.
Within the detail, output growth slowed to its weakest pace since March, and the expansion in new orders was the softest in four months. A tapering of the inventory build-up that had been particularly strong in May and June also weighed on the headline index.
On a more positive note, factory employment returned to growth for the first time in three months. Supplier delivery times lengthened further; however, S&P Global noted this deterioration stemmed primarily from supply disruptions linked to the Middle East rather than strong demand, and was accompanied by a renewed intensification of price pressures.
S&P Global reported on July 1 that its final US Manufacturing PMI for June 2026 came in at 53.9, down from 55.1 in May and sharply below the flash estimate of 55.7. The reading marked an eleventh straight month of expansion, though the pace of improvement was the weakest in three months.
According to the release, output and new orders kept rising at slower but historically strong rates, supported by new product launches and advance orders placed ahead of expected price increases. Employment, however, fell at the fastest pace since May 2020, and business optimism for the year ahead dropped to its lowest level since October 2025.
Input costs rose sharply on higher raw material prices, though the increase was softer than May's peak, and selling-price inflation eased to a three-month low.