In January, the seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) was 51.2, up 1.8 points from December 2024, marking the first time exceeding the 50 no-change point since June 2024. Manufacturers reported an increase in new orders, output, and employment with an improved business outlook.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global