US ISM Manufacturing PMI December 2026
December 1 @ 10:00 am - 11:00 am
US ISM Manufacturing PMI December 2026
Next US ISM Manufacturing PMI: Tuesday, at 10:00 am ET (3:00 pm London).
Date to be confirmed by the publisher; this is the scheduled date.
- Consensus
- Not yet published
- Prior
- 55.6 (July 2026)
- Actual
- Pending
Full schedule and background: US ISM Manufacturing PMI.
Updated
The ISM Manufacturing PMI for December 2026 is due to be released on December 1, 2026 at 10:00 am ET (3:00 pm London time) by the Institute for Supply Management (ISM). The report covers manufacturing activity for November 2026. Full schedule and background: US ISM Manufacturing PMI.
What is the ISM Manufacturing PMI?
The ISM Manufacturing Purchasing Managers’ Index (PMI) is a monthly survey of purchasing and supply executives at manufacturing firms across the United States. Respondents from around 400 companies in 18 industries are asked whether business conditions such as new orders, production, employment, supplier deliveries and inventories have improved, worsened or stayed the same compared with the previous month.
Those responses are combined into a single diffusion index. A reading above 50 means the manufacturing sector is expanding, a reading below 50 means it is contracting. The distance from 50 indicates the pace of change, so a reading of 58 signals faster growth than 52.
Markets watch the ISM Manufacturing PMI closely because it is one of the earliest and most reliable monthly indicators of the health of US industry, arriving before most official government data for the same month. Sub-indices such as New Orders and Prices Paid also give an early read on demand and inflation pressure in supply chains, which the Federal Reserve monitors when setting interest rates.
When is the December ISM Manufacturing PMI released?
The report is scheduled for Tuesday, December 1, 2026 at 10:00 am ET (3:00 pm London), published directly by the Institute for Supply Management on its website. The ISM has not yet confirmed this specific date at the time of writing; ISM typically publishes the Manufacturing PMI on the first business day of the month following the survey period, so December 1, 2026 is the expected date based on that established pattern.
What is the consensus forecast?
A consensus forecast for the November 2026 data (to be published on December 1, 2026) has not yet been published. Economists’ estimates typically become available in the days immediately before the release, compiled by outlets such as Reuters and Bloomberg from surveys of forecasters.
The most recent confirmed reading available at the time of writing is for July 2026. The ISM Manufacturing PMI rose to 55.6 in July 2026, up from 53.3 in June 2026, according to TD Economics’ analysis of the official ISM report, marking the seventh consecutive month of expansion and the strongest reading since May 2022.
| Measure | Prior (June 2026) | Latest confirmed (July 2026) |
|---|---|---|
| Headline PMI | 53.3 | 55.6 |
| New Orders Index | 56.0 | 56.7 |
What the result could mean
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Read as a sign of resilient factory demand; could support the dollar and push Treasury yields higher if it feeds expectations that the Fed will hold rates for longer | Factories are busier than expected, which can be a good sign for jobs and growth but may also keep borrowing costs elevated |
| In line with consensus | Likely limited market reaction, since the data broadly confirms the trend traders had already priced in | Manufacturing is behaving roughly as expected, so little changes for interest rate expectations |
| Below consensus | Could be read as a sign of cooling demand, potentially supporting expectations of interest rate cuts and weighing on the dollar | Factories are seeing less business than hoped, which can be a warning sign for jobs and wider economic growth |
These are possible reactions described by market commentators, not predictions. Actual moves depend on the wider data picture on the day, including labour market and inflation releases around the same time.
Why does this release matter right now?
The ISM Manufacturing PMI has been a closely watched barometer of the US industrial cycle through 2026. According to TD Economics, the index climbed for seven straight months into July 2026, with production and new orders both strengthening and 15 of 18 tracked industries reporting expansion. That trend followed an extended period earlier in the expansion where the Employment Index remained below 50, a point ISM’s Susan Spence highlighted in the June 2026 report when factory hiring intentions were still soft even as overall activity improved.
Investors and the Federal Reserve watch this report for signs of whether tariffs, borrowing costs and global demand are helping or hurting US factories, and whether price pressures in the Prices Paid sub-index are building or easing. A run of strong prints can shift expectations for how long the Fed keeps interest rates on hold, while a sudden slowdown can revive talk of rate cuts.
What It Means for Your Money
- Mortgages and loans: Manufacturing strength that suggests the economy is running hot can push bond yields up, which tends to feed through to higher fixed mortgage rates in the US and, indirectly, to global borrowing costs. Weak factory data can have the opposite effect.
- Savings: If the report shifts expectations about Federal Reserve interest rate decisions, it can move the rates banks offer on savings accounts and money market funds in the months ahead.
- Jobs and wages: The Employment Index within the report gives an early signal on factory hiring. A weakening trend can be a warning sign for job security in manufacturing-heavy regions and supply chains.
- Prices: The Prices Paid sub-index tracks the cost of raw materials for manufacturers. A sharp rise can be an early sign that inflation pressure is building further down the supply chain, which can eventually show up in shop prices.
- Investments, pensions and currencies: Equity markets, particularly industrial and materials shares, often react to the headline number and New Orders sub-index. A stronger-than-expected US reading can also lift the dollar against the pound and euro, affecting the value of overseas holdings for UK and European investors, while a weak reading tends to have the opposite effect.
Related events
- Previous release: US ISM Manufacturing PMI, November 2026
- Full series schedule and history: US ISM Manufacturing PMI hub page
- Related US labour market and inflation releases, including the monthly jobs report and CPI, are also worth checking around this date for the fuller economic picture
Frequently Asked Questions
What time is the December 2026 ISM Manufacturing PMI released?
It is scheduled for 10:00 am ET, which is 3:00 pm in London, on December 1, 2026.
How do I read the ISM Manufacturing PMI number?
A reading above 50 means the manufacturing sector is expanding compared with the previous month, while a reading below 50 means it is contracting. The further from 50, the faster the pace of change.
How does this report affect interest rates?
The Federal Reserve monitors manufacturing activity and price pressures shown in the report’s sub-indices as part of its broader assessment of the economy, so persistently strong or weak readings can influence expectations for future interest rate decisions.
Where can I find the official ISM Manufacturing PMI release?
The report is published directly by the Institute for Supply Management on its website, ismworld.org, in the ISM PMI Reports section.
Where can I find the next ISM Manufacturing PMI released after this one?
The following report, covering December 2026 data, is expected in early January 2027, following ISM’s usual pattern of publishing on the first business day of the month.