Inside Supply Management Magazine

March/April 2023

February 2023 ISM® Report On Business®: Manufacturing

March 08, 2023

The U.S. manufacturing sector contracted in February, as the Manufacturing PMI® registered 47.7 percent, 0.3 percentage point higher than the reading of 47.4 percent recorded in January. This is the fourth month of slow contraction and continuation of a downward trend that began in June 2022. Of the five subindexes that directly factor into the Manufacturing PMI®, only one (the Inventories Index), was in growth territory, and just barely. Only three of the 10 subindexes were positive for the period. 


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