
Manufacturing PMI® at 47.9%; December 2025 ISM® Manufacturing PMI® Report
Key Points:
- The U.S. manufacturing sector contracted for the 10th consecutive month in December 2025, with the Manufacturing PMI® registering 47.9%, down 0.3 percentage points from November, marking the lowest reading of the year.
- New Orders contracted for the fourth straight month, while Production remained in expansion but declined slightly; Employment continued to contract but at a slower pace, reflecting ongoing cautious headcount management amid uncertain demand.
- Supplier deliveries slowed, inventories of raw materials contracted sharply, and customers' inventories remained too low, signaling potential future production increases despite current weakness.
- Price increases for raw materials remained steady, driven by steel, aluminum, and tariffs, while exports and imports both contracted, impacted by trade frictions and tariff












