US ISM Manufacturing PMI November 2026

The US ISM Manufacturing PMI for November 2026 is scheduled to be released on Monday, November 2, 2026, at 10:00 am ET (3:00 pm London time) by the Institute for Supply Management (ISM). The report covers factory activity data collected during October 2026. As with all ISM releases, the exact date has not yet been formally confirmed by the publisher: ISM publishes the Manufacturing PMI on the first business day of each month, and November 2, 2026, is that day for this cycle. Full schedule and background: US ISM Manufacturing PMI.

What is the ISM Manufacturing PMI?

The ISM Manufacturing PMI (Purchasing Managers’ Index) is a monthly survey-based gauge of activity in the US factory sector. Purchasing and supply executives at several hundred companies across 18 manufacturing industries are asked whether conditions such as new orders, production, employment, supplier deliveries and inventories have improved, worsened or stayed the same compared with the prior month.

Those responses are converted into a single diffusion index. A reading above the expansion threshold indicates the manufacturing sector is growing; a reading below it indicates contraction. ISM’s own commentary has referenced a threshold of roughly 47.5 for the overall economy to be judged as expanding, according to the Institute for Supply Management, a change from the more traditional 50-point breakeven level often used by economists and traders when reading the headline number.

Markets watch the PMI closely because it is one of the earliest hard-data style signals each month on the health of the goods-producing side of the economy, arriving well before official government factory output figures. Sub-indices such as New Orders, Prices Paid and Employment are used by traders to gauge demand, inflation pressure in the supply chain, and factory hiring trends, all of which feed into expectations for Federal Reserve policy, the direction of the US dollar, and sentiment in export-dependent economies such as the eurozone, the UK and parts of Asia.

When is the November ISM Manufacturing PMI released?

The report is due at 10:00 am ET (3:00 pm London) on Monday, November 2, 2026, published by the Institute for Supply Management. It will appear on the ISM’s official Report On Business pages. Because ISM confirms its exact release calendar only a limited number of months ahead, this date reflects the publisher’s standard pattern of releasing the Manufacturing PMI on the first business day of the month rather than a confirmed entry on ISM’s published calendar at the time of writing.

What is the consensus forecast?

A consensus forecast for the November 2026 release (covering October 2026 data) has not yet been published by data providers such as Reuters or Trading Economics, as these polls are typically compiled only in the days immediately before the release. The most recent confirmed ISM Manufacturing PMI reading available at the time of writing was for July 2026, when the index came in at 55.6%, comfortably ahead of the 54.0% forecast tracked by Investing.com’s economic calendar and up from 53.3% in June 2026, according to Investing.com and ISM’s own June 2026 report. Readings for August and September 2026 will have been published before this November release and should be checked against the official ISM report for the most current prior figure.

What the result could mean

These are possible market reactions described by analysts, not predictions of what will happen on the day.

Why does this release matter right now?

The ISM Manufacturing PMI has spent stretches of 2025 and 2026 hovering close to the line between contraction and expansion, before climbing to 55.6% in July 2026 from 53.3% in June, according to Investing.com’s economic calendar and ISM’s own report. The New Orders Index eased slightly to 56.0% in June from 56.8% in May, based on ISM’s June 2026 Manufacturing PMI report, a sign that demand growth, while still solid, has not been accelerating in a straight line.

Federal Reserve officials watch the survey’s Prices Paid and Employment components alongside the headline figure when weighing how much slack remains in the economy and how sticky input-cost pressures are. A run of strong headline prints combined with rising Prices Paid readings tends to make policymakers more cautious about cutting interest rates quickly, while a run of weak prints does the opposite. Outside the US, the report is one of the inputs traders in London, Frankfurt and Tokyo use to judge the strength of US import demand, which matters for exporters in the eurozone, the UK and Asia that sell machinery, components and raw materials into US supply chains.

What It Means for Your Money

• Mortgages and loan rates: a stronger than expected PMI can nudge US Treasury yields higher, which tends to feed through to mortgage and other borrowing rates in the US, and can have a smaller knock-on effect on rate expectations in the UK and eurozone through global bond markets.
• Savings rates: if the report shifts expectations for how soon or how far the Federal Reserve cuts interest rates, that can change what banks offer on savings accounts and fixed-term deposits over the following months.
• Jobs and wages: the survey’s Employment Index offers an early signal on factory hiring intentions, relevant for workers and job-seekers in manufacturing-heavy US states and, indirectly, in exporting economies that supply US factories.
• Prices you pay: the Prices Paid Index tracks cost pressures further up the supply chain. Persistent increases here can eventually show up in the price of manufactured goods on shelves.
• Investments, pensions and currencies: the report can move US equity futures, the US dollar, and by extension the value of the pound and the euro against the dollar, which affects the return on overseas holdings inside pensions and investment portfolios.

Related events

• Previous release: US ISM Manufacturing PMI, October 2026
• Full schedule and background: US ISM Manufacturing PMI hub page
• Related US data to watch around the same week: the ISM Services PMI and the US nonfarm payrolls report, both of which round out the picture of the broader US economy.

Frequently Asked Questions

What time is the November ISM Manufacturing PMI released?

It is scheduled for 10:00 am ET, which is 3:00 pm in London, on Monday, November 2, 2026.

How should I read the ISM Manufacturing PMI number?

Look at the headline index alongside the New Orders, Prices Paid and Employment sub-indices, since these show whether growth (or contraction) is being driven by demand, cost pressures or hiring.

Does the ISM Manufacturing PMI affect Federal Reserve interest rate decisions?

Yes, it is one of many indicators Federal Reserve officials monitor when assessing economic momentum and inflation pressure, though it is not the sole factor behind any rate decision.

Where can I find the official ISM Manufacturing PMI release?

The report is published on the Institute for Supply Management’s Report On Business section of its official website, ismworld.org.

When is the next ISM Manufacturing PMI released after this one?

The following report, covering November 2026 data, is expected on the first business day of December 2026, in line with ISM’s standard publication schedule.