Updated: 02-Feb-26 10:20 ET

January ISM Manufacturing Index

Updated: 02-Feb-26 10:20 ET

Highlights

• The ISM Manufacturing Index checked in at 52.6% for January (Briefing.com consensus: 48.3%), up from 47.9% in December.
• The dividing line between expansion and contraction is 50.0%, so the January figure suggests manufacturing activity in January pivoted from contraction to growth.

Key Factors

• The New Orders Index popped to 57.1% from 47.4% in December.
• The Production Index jumped to 55.9% from 50.7% in December.
• The Prices Index edged up to 59.0% from 58.5% in December.
• The Employment Index rose to 48.1% from 44.8% in December.
• The Backlog of Orders Index increased to 51.6% from 45.8% in December.
• The Supplier Deliveries Index improved to 54.4% from 50.8% in December.
• The New Export Orders Index elevated to 50.2% from 46.8% in December.

Big Picture

• The key takeaway from the report is that activity in the manufacturing sector revved up in January, breaking a streak of eleven straight months in a state of contraction, paced by the highest level in the new orders index since February 2022.

Category	JAN	DEC	NOV	OCT	SEP
Total Index	52.6	47.9	48.2	48.7	49.1
Orders	57.1	47.4	47.4	49.4	48.9
Production	55.9	50.7	51.4	48.2	51.0
Employment	48.1	44.8	44.0	46.0	45.3
Deliveries	54.4	50.8	49.3	54.2	52.6
Inventories	38.7	43.3	48.9	45.8	47.7
Export Orders	50.2	46.8	46.2	44.5	43.0
Prices paid (not seas adj)	59.0	58.5	58.5	58.0	61.9