ISM Manufacturing PMI Apr: 52.7index vs 53index expected (below expectations)
ISM Manufacturing PMI held at 52.7 in April, unchanged from March but below the 53.0 consensus. Factory activity stayed in expansion, with stronger production offset by softer new orders, weak employment, and hot prices.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
Manufacturing was still expanding, but the mix was not clean Goldilocks: demand cooled at the margin, hiring stayed soft, and the prices index kept the inflation impulse uncomfortable.
📖 Why This Matters
May Day manufacturing: workers and supply chains both looking for better conditions.
ISM Manufacturing PMI Apr actual vs expected
| Release date | Friday, May 1, 2026 at 10:00 ET |
|---|---|
| Event type | ISM |
| Actual | 52.7index |
| Expected | 53index |
| Prior | 52.7index |
| Expectation surprise | below expectations |
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FAQ
What was the ISM Manufacturing PMI Apr result?
ISM Manufacturing PMI Apr came in at 52.7index versus 53index expected, below expectations.
How did markets react to ISM Manufacturing PMI Apr?
Stocks finished firmer on the day, with SPY +0.3% and QQQ +1.0%, while the 10Y yield slipped about 1 bp.
🔗 Related Events
ISM Manufacturing PMI Feb
Expansion held — PMI 52.4 (vs 52.6 prior). Second straight month above 50 but only the third time in 40 months. Factory gate inflation surged on tariff costs.
ISM Services PMI Feb
Blowout — 56.1 (vs 53.8 prior), highest since July 2022. Beat every single estimate in Bloomberg's survey. Services economy on fire despite everything.
ISM Manufacturing PMI Mar
Manufacturing improved to 52.7 in March from 52.4, beating the 52.0 consensus and marking the best reading since August 2022. Activity stayed in expansion, but supplier delays and tariff-related costs kept the inflation angle alive.