Updated: 01-Apr-26 10:20 ET
Highlights
- The ISM Manufacturing Index checked in at 52.7% for March (Briefing.com consensus: 52.3%), up from 52.4% in February.
- The dividing line between expansion and contraction is 50.0%, so the March figure suggests there was a slight acceleration in manufacturing activity versus the prior month.
- The New Orders Index dipped to 53.5% from 55.8% in February.
- The Production Index rose to 55.1% from 53.5% in February.
- The Prices Index surged to 78.3% from 70.5% in February. This is the highest reading since June 2022.
- The Employment Index held steady at 48.7% versus 48.8% in February.
- The Backlog of Orders Index decreased to 54.4% from 56.6% in February.
- The Supplier Deliveries Index improved to 58.9% from 55.1% in February.
- The New Export Orders Index slipped to 49.9% from 50.3% in February.
- The key takeaway from the report is that it conveys an ongoing expansion in manufacturing activity coupled with an ongoing increase in prices for raw materials that works against the notion of the Fed cutting rates soon.
| Category | MAR | FEB | JAN | DEC | NOV |
| Total Index | 52.7 | 52.4 | 52.6 | 47.9 | 48.2 |
| Orders | 53.5 | 55.8 | 57.1 | 47.4 | 47.4 |
| Production | 55.1 | 53.5 | 55.9 | 50.7 | 51.4 |
| Employment | 48.7 | 48.8 | 48.1 | 44.8 | 44.0 |
| Deliveries | 58.9 | 55.1 | 54.4 | 50.8 | 49.3 |
| Inventories | 40.1 | 48.8 | 47.6 | 45.7 | 48.5 |
| Export Orders | 49.9 | 50.3 | 50.2 | 46.8 | 46.2 |
| Prices paid (not seas adj) | 78.3 | 70.5 | 59.0 | 58.5 | 58.5 |
