US ISM Manufacturing PMI January 2027
January 1, 2027 @ 10:00 am - 11:00 am
US ISM Manufacturing PMI January 2027
Next US ISM Manufacturing PMI: Friday, 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
- Not yet available
- Actual
- Pending
Full schedule and background: US ISM Manufacturing PMI.
Updated
The US ISM Manufacturing PMI for January 2027 is scheduled for release on Friday, January 1, 2027, at approximately 10:00 am ET (3:00 pm London time), published by the Institute for Supply Management (ISM). The report covers manufacturing activity for the month of December 2026. Full schedule and background on this series can be found on the US ISM Manufacturing PMI hub page.
What is the ISM Manufacturing PMI?
The ISM Manufacturing Purchasing Managers’ Index (PMI) is a monthly survey of purchasing and supply executives at more than 300 US manufacturing firms. Respondents are asked whether conditions in areas such as new orders, production, employment, supplier deliveries and inventories have improved, worsened or stayed the same compared with the previous month. The answers are combined into a single diffusion index.
A reading above 50 signals that manufacturing activity is generally expanding, while a reading below 50 signals contraction. The distance from 50 matters too: a print of 52 suggests modest growth, while 46 suggests a more pronounced slowdown. Because factories sit early in the supply chain, changes in orders and output often show up in the ISM survey before they appear in official government data such as industrial production or GDP.
Markets watch this release closely because it is one of the timeliest gauges of the industrial economy. Central banks, including the Federal Reserve, use it alongside employment and inflation data to judge whether demand is cooling or reaccelerating. A sharp move in either direction can shift expectations for interest rates, corporate earnings in industrial sectors, and the direction of the dollar.
When is the January 2027 ISM Manufacturing PMI released?
The report is expected on Friday, January 1, 2027, at 10:00 am ET (3:00 pm London time), published by the Institute for Supply Management on its official website. Because this page has been prepared well ahead of the release, the exact date has not yet been confirmed by ISM: the institute typically publishes the Manufacturing PMI on the first business day of each month, so the date shown here may shift slightly if the first business day changes.
What is the consensus forecast?
As of the time of writing, a consensus forecast for the January 2027 report (covering December 2026 activity) has not yet been published. Economists’ forecasts for ISM data are typically compiled by data providers such as Reuters and Bloomberg in the days immediately before release, once more recent regional and sentiment surveys are available. Similarly, the prior reading for this series had not yet been confirmed at the time this page was prepared, since it depends on a December 2026 report that had not yet been released.
| Measure | Prior | Consensus |
|---|---|---|
| Headline PMI | Not yet available | Not yet published |
| New Orders Index | Not yet available | Not yet published |
Readers checking this page closer to the release date should look for updated consensus figures from Reuters or Bloomberg surveys, which are usually published a day or two before the report.
What the result could mean
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Read as a sign of resilient factory activity, which could reduce expectations of near-term interest rate cuts and support the dollar | Factories are receiving more orders and producing more than expected, suggesting the industrial economy is holding up |
| In line with consensus | Likely to have limited market impact, since the figure would confirm the trend already priced in by traders | Manufacturing activity is behaving broadly as economists expected, with no major surprise for growth or inflation |
| Below consensus | Could be read as a sign of a slowing industrial sector, potentially firming expectations for looser monetary policy | Orders and output are weaker than expected, which can be an early warning sign for hiring and investment in factories |
These are possibilities discussed by analysts around ISM releases generally, not predictions for this specific report. The actual market reaction will depend on the wider data picture at the time, including inflation and labour market releases published in the same week.
Why does this release matter right now?
Manufacturing has been a closely watched part of the US economy because it tends to react faster to changes in borrowing costs, energy prices and global trade conditions than services or the labour market. The Federal Reserve monitors the ISM survey as one input, alongside inflation and employment data, when setting interest rate policy. A run of weak ISM readings can add to arguments for rate cuts, while a run of strong readings can support the case for holding rates steady.
The report also carries an international angle. Because US manufacturers buy inputs from and sell goods to companies in Europe and Asia, shifts in new orders and production often ripple through global supply chains. A weaker than expected US manufacturing sector can weigh on export-driven economies in the eurozone and parts of Asia, while a stronger reading can support industrial and commodity-linked currencies and shares outside the United States.
What It Means for Your Money
- Mortgages and loan rates: If the report points to a weakening economy, investors may increase bets on future interest rate cuts, which can gradually filter through to lower mortgage and borrowing costs. A stronger than expected reading can have the opposite effect, keeping borrowing costs higher for longer.
- Savings rates: Interest paid on savings accounts and fixed deposits tends to track central bank policy. Weak manufacturing data that raises the odds of rate cuts can, over time, mean lower returns on cash savings.
- Jobs and wages: The employment component of the ISM survey offers an early signal on factory hiring intentions. A falling reading can be an early warning for job losses or hiring freezes in manufacturing-heavy regions.
- Prices you pay: The prices paid component reflects what manufacturers are paying for raw materials. Rising input costs can eventually feed through to the price of goods on shop shelves, both in the US and in countries that import American-made products.
- Investments, pensions and currencies: Industrial and manufacturing shares, which often feature in pension fund portfolios, can move on the day of release. The dollar can also strengthen or weaken depending on the surprise relative to consensus, which affects the value of the pound and euro against the dollar for anyone holding US assets or planning to travel or invest overseas.
Related events
- Previous report: US ISM Manufacturing PMI, December 2026
- Full release history and background: US ISM Manufacturing PMI hub
- Other closely watched US indicators, including the ISM Services PMI and the monthly jobs report, are typically released in the same week and can be found on the wider FinanceCalendar economic calendar.
Frequently Asked Questions
What time is the ISM Manufacturing PMI released?
The report is scheduled for around 10:00 am ET, which is 3:00 pm in London, on the first business day of the month covering the prior month’s activity.
How do I read the ISM Manufacturing PMI number?
A reading above 50 indicates manufacturing activity is expanding compared with the previous month, while a reading below 50 indicates contraction. The further from 50, the stronger the signal.
How does this report affect interest rates?
The Federal Reserve considers manufacturing strength alongside inflation and employment data when deciding on interest rates. Persistently weak readings can support arguments for rate cuts, while strong readings can support holding rates steady.
Where can I find the official ISM release?
The Institute for Supply Management publishes the report directly on its official website on release day, with the headline index and underlying components such as new orders, production, employment and prices.
When is the next ISM Manufacturing PMI report?
Following this release, the next report covers January 2027 manufacturing activity and is typically published on the first business day of February 2027.