ISM Manufacturing PMI

The ISM Manufacturing PMI is a monthly survey that measures how U.S. factories are doing—whether business is expanding or shrinking. PMI stands for Purchasing Managers' Index; it asks factory managers about new orders, production levels, and hiring to create a single score between 0 and 100. You'll see this number released on the first business day of each month, and investors watch it closely because factory health signals where the broader economy is headed. A reading above 50 means manufacturing is growing; below 50 means it's contracting. For example, if the PMI jumped from 48 to 52, traders might get excited thinking a slowdown is reversing. It's one of the earliest clues about economic momentum.