The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) for December 2025 was 51.8, slipping 0.4 points from November but marking the fifth consecutive month above the 50-growth point. Manufacturers reported a decline in new orders but continued gains in production, output, and employment.
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