美國 ISM 製造業採購經理指數 (PMI)

About ISM Manufacturing PMI

Released on the first business day of every month at 10:00 AM ET, the ISM Manufacturing PMI distills supply-chain responses across New Orders, Production, Employment, Supplier Deliveries, and Inventories around a clean 50.0 expansion threshold. Equity cyclicals, copper, and 10-year yields react immediately to its New Orders minus Inventories spread. ISM Manufacturing PMI takes #6 right behind Core PCE (#5) and ahead of US Real GDP (#7) thanks to first-in-line release-calendar speed and strong correlation with S&P 500 industrial earnings cycles. Published on the very first business day of every month at 10:00 AM ET, ISM sets the opening tone for global equities, copper, crude oil, and Treasury yields days before Nonfarm Payrolls (#2) and weeks before quarterly GDP (#7) reports backward-looking output. Its New Orders minus Inventories spread and Prices Paid sub-index remain staple inputs for macro quant models. It trails Michigan Consumer Sentiment (#4) and Core PCE (#5) because goods manufacturing now represents roughly one-tenth of US output, meaning sub-50 factory readings no longer force FOMC easing when household services demand stays resilient.