Updated: 03-Nov-25 10:23 ET

October ISM Manufacturing Index

Updated: 03-Nov-25 10:23 ET

Highlights

• The October ISM Manufacturing Index checked in at 48.7% for October (Briefing.com consensus: 49.4%), down from 49.1% in September.
• The dividing line between expansion and contraction is 50.0%, so the October figure, which is the eighth straight month below 50.0%, suggests manufacturing activity contracted at a faster pace than the prior month.

Key Factors

• The New Orders Index edged higher to 49.4% from 48.9% in September.
• The Production Index fell to 48.2% from 51.0% in September.
• The Prices Index dipped to 58.0% from 61.9% in September.
• The Employment Index rose to 46.0% from 45.3% in September.
• The Backlog of Orders Index jumped to 47.9% from 46.2% in September.
• The Supplier Deliveries Index increased to 54.2% from 52.6% in September.
• The New Export Orders Index rose to 44.5% from 43.0% in September.

Big Picture

• The key takeaway from the report is that the manufacturing sector saw its eighth consecutive month of contraction, with uncertainty about tariffs and the global economy tempering demand.

Category	OCT	SEP	AUG	JUL	JUN
Total Index	48.7	49.1	48.7	48.0	49.0
Orders	49.4	48.9	51.4	47.1	46.4
Production	48.2	51.0	47.8	51.4	50.3
Employment	46.0	45.3	43.8	43.4	45.0
Deliveries	54.2	52.6	51.3	49.3	54.2
Inventories	45.8	47.7	49.4	48.9	49.2
Export Orders	44.5	43.0	47.6	46.1	46.3
Prices paid (not seas adj)	58.0	61.9	63.7	64.8	69.7