ISM's Purchasing Manager Index Inched Up to 52.7% in March

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ISM's Purchasing Manager Index Inched Up to 52.7% in March

Tempe, AZ, April 1, 2026-The Manufacturing Purchasing Managers Index (PMI) registered 52.7% in March, a 0.3-percentage point increase compared to the reading of 52.4% in February. The overall economy continued in expansion for the 17th month in a row. (A Manufacturing PMI above 47.5%, over a period of time, generally indicates an expansion of the overall economy.) 

The New Orders Index expanded for the third straight month after four straight readings in contraction, registering 53.5%, down 2.3 percentage points compared to February’s figure of 55.8%. 

The March reading of the Production Index (55.1%) is 1.6 percentage points higher than February’s reading of 53.5%. 

The Prices Index remained in expansion (or ‘increasing’ territory), registering 78.3%, a 7.8-percentage point jump from February’s reading of 70.5%. In the last two months, the Prices Index has increased 19.3 percentage points to reach its highest level since a reading of 78.5% in June 2022. 

The Backlog of Orders Index registered 54.4%, down 2.2 percentage points compared to the 56.6% recorded in February. The Employment Index registered 48.7%, down 0.1 percentage point from February’s figure of 48.7%.

The Supplier Deliveries Index indicated a further slowing for the fourth month in a row after one month in ‘faster’ territory. The reading of 58.9% is up 3.8 percentage points from the 55.1% recorded in February. (Supplier Deliveries is the only ISM PMI Reports index that is inversed; a reading of above 50% indicates slower deliveries, which is typical as the economy improves and customer demand increases.)

The Inventories Index registered 47.1%, down 1.7 percentage points compared to February’s reading of 48.8%. The Customers’ Inventories Index reading of 40.1% is a 1.3-percentage point increase compared to February.

The New Export Orders Index reading of 49.9% is 0.4 percentage point lower than the reading of 50.3% registered in February and marks a return of this subindex to contraction territory. The Imports Index registered 52.6%, 2.3 percentage points lower than February’s reading of 54.9%.

The 13 manufacturing industries reporting growth in March-listed in order-are printing & related support activities; primary metals; transportation equipment; miscellaneous manufacturing; electrical equipment, appliances & components; textile mills; computer & electronic products; fabricated metal products; machinery; paper products; nonmetallic mineral products; wood products; and chemical products. The three industries reporting contraction in March are plastics & rubber products; furniture & related products; and food, beverage & tobacco products.