ISM Manufacturing PMI Aug: 54.6index vs 55index expected (below expectations)
ISM Manufacturing PMI eased to 54.6 in August from 55.6, missing the roughly 55.0 consensus but remaining in expansion for an eighth straight month. New orders slowed to 53.7, production held firm at 58.3, employment stayed expansionary at 51.2, and input prices remained elevated.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
Factory growth remained solid, but cooling new orders and still-high input costs reinforced a mixed late-cycle signal rather than a clean growth or inflation victory.
📖 Why This Matters
August factory check: can manufacturing keep expanding while input costs stay hot?
ISM Manufacturing PMI Aug actual vs expected
| Release date | Tuesday, September 1, 2026 at 10:00 ET |
|---|---|
| Event type | ISM |
| Actual | 54.6index |
| Expected | 55index |
| Prior | 55.6index |
| Expectation surprise | below expectations |
📚 Related calendar tools and guides
FAQ
What was the ISM Manufacturing PMI Aug result?
ISM Manufacturing PMI Aug came in at 54.6index versus 55index expected, below expectations.
How did markets react to ISM Manufacturing PMI Aug?
The softer PMI shared the tape with JOLTS, but oil and a global bond selloff dominated: S&P 500 -0.7%, Nasdaq -1.0%, and the 10Y yield rose to 4.79%.
🔗 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.