ISM Manufacturing PMI

The ISM Manufacturing PMI is a monthly survey that measures whether U.S. factory activity is expanding or shrinking. PMI stands for Purchasing Managers' Index—it asks purchasing managers at hundreds of factories about new orders, production, and hiring to create a single score between 0 and 100. Scores above 50 mean manufacturing is growing; below 50 means it's contracting. 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. For example, if the PMI drops sharply, it might suggest a recession is coming, which could pressure stock prices across many sectors.