February ISM Manufacturing Index
Updated: 02-Mar-26 10:26 ET







Highlights

• The ISM Manufacturing Index checked in at 52.4% for February (Briefing.com consensus: 52.1%), down from 52.6% in January.
• The dividing line between expansion and contraction is 50.0%, so the February figure suggests manufacturing activity in February expanded but at a slower pace than the prior month.

Key Factors

• The New Orders Index dipped to 55.8% from 57.1% in January.
• The Production Index fell to 53.5% from 55.9% in January.
• The Prices Index surged to 70.5% from 59.0% in January. This is the highest reading since June 2022.
• The Employment Index rose to 48.8% from 48.1% in January.
• The Backlog of Orders Index jumped to 56.6% from 51.6% in January.
• The Supplier Deliveries Index improved to 55.1% from 54.4% in January.
• The New Export Orders Index inched up to 50.3% from 50.2% in January.

Big Picture

• The key takeaway from the report is the faster pace of growth in the Prices Index, as that will fuel concerns about sticky inflation pressure (and the Fed sticking with its current policy rate for longer).

Category	FEB	JAN	DEC	NOV	OCT
Total Index	52.4	52.6	47.9	48.2	48.7
Orders	55.8	57.1	47.4	47.4	49.4
Production	53.5	55.9	50.7	51.4	48.2
Employment	48.8	48.1	44.8	44.0	46.0
Deliveries	55.1	54.4	50.8	49.3	54.2
Inventories	48.8	47.6	45.7	48.5	46.7
Export Orders	50.3	50.2	46.8	46.2	44.5
Prices paid (not seas adj)	70.5	59.0	58.5	58.5	58.0