Updated: 05-Jan-26 10:21 ET

December ISM Manufacturing Index

Updated: 05-Jan-26 10:21 ET

Highlights

• The ISM Manufacturing Index checked in at 47.9% for December (Briefing.com consensus: 48.4%), down from 48.2% in November.
• The dividing line between expansion and contraction is 50.0%, so the December figure, which is the tenth straight month below 50.0%, suggests manufacturing activity contracted at a faster pace than the prior month.

Key Factors

• The New Orders Index edged up to 47.7% from 47.4% in November.
• The Production Index dipped to 51.0% from 51.4% in November.
• The Prices Index held steady at 58.5% in December.
• The Employment Index rose to 44.9% from 44.0% in November.
• The Backlog of Orders Index increased to 45.8% from 44.0% in November.
• The Supplier Deliveries Index jumped to 50.8% from 49.3% in November.
• The New Export Orders Index elevated to 46.8% from 46.2% in November.

Big Picture

• The key takeaway from the report is that the manufacturing sector operated in a state of contraction for the tenth consecutive month, with tariffs and weaker order activity cited as key drags on overall activity.

Category	DEC	NOV	OCT	SEP	AUG
Total Index	47.9	48.2	48.7	49.1	48.7
Orders	47.7	47.4	49.4	48.9	51.4
Production	51.0	51.4	48.2	51.0	47.8
Employment	44.9	44.0	46.0	45.3	43.8
Deliveries	50.8	49.3	54.2	52.6	51.3
Inventories	45.2	48.9	45.8	47.7	49.4
Export Orders	46.8	46.2	44.5	43.0	47.6
Prices paid (not seas adj)	58.5	58.5	58.0	61.9	63.7