ISM Manufacturing PMI October 2026: quick answer. The September 2026 ISM Manufacturing PMI report is scheduled for Thursday, October 1, 2026, at 10:00 a.m. Eastern Time. The latest available baseline is August’s 54.6 headline PMI, which signaled manufacturing expansion for an eighth consecutive month. For the new release, read the headline together with new orders, production, employment, prices, supplier deliveries, and inventories; the PMI is a diffusion index, not a percentage growth rate.
Updated September 30, 2026. This is a release-time guide, not a forecast. No unverified consensus estimate is used.
ISM Manufacturing PMI October 2026: release details
| Item | Confirmed detail |
|---|---|
| Report | ISM Manufacturing PMI featuring September 2026 survey data |
| Release date | Thursday, October 1, 2026 |
| Release time | 10:00 a.m. Eastern Time |
| Latest published baseline | August 2026 Manufacturing PMI: 54.6 |
| Primary schedule | ISM PMI Reports release calendar |
ISM states that the Manufacturing PMI report is normally published at 10:00 a.m. ET on the first business day of the month. Its August report confirms the September-data release date of October 1.
August baseline: expansion, with softer new orders
| August index | Reading | Change from July | What it tracks |
|---|---|---|---|
| Manufacturing PMI | 54.6 | Down 1.0 point | Composite factory activity |
| New Orders | 53.7 | Down 3.0 points from 56.7 | Incoming demand reported by manufacturers |
| Production | 58.3 | Down 0.2 point from 58.5 | Current factory output |
| Prices | 71.1 | Unchanged | Direction of input prices reported by respondents |
According to ISM’s August 2026 report, manufacturing activity expanded for an eighth consecutive month. New orders were still above 50, but their decline from July is a useful detail to check against September’s reading. The Prices Index at 71.1 signals that more respondents reported prices increasing than decreasing under the survey’s diffusion-index convention; it does not mean input prices rose 71.1%.
How to read the ISM diffusion index
The Manufacturing PMI is a survey-based diffusion index. A reading above 50 generally indicates that manufacturing activity expanded compared with the previous month; below 50 indicates contraction. The distance from 50 shows the breadth of responses, not the exact percentage change in output.
ISM also notes that a Manufacturing PMI above 47.5 over time generally indicates expansion in the overall U.S. economy. That broader-economy threshold is not the same as the manufacturing 50-point expansion/contraction line, and it should not be treated as a precise GDP forecast.
Six checks to make when the September report is released
- Headline PMI: Is the index above or below 50, and did the prior month get revised?
- New Orders: Does demand strengthen, cool, or cross the 50 line? Compare it with production rather than reading it alone.
- Production: Does reported output move in the same direction as orders, or is there a gap that may reflect backlogs or inventory timing?
- Employment: Read the manufacturing employment index as a survey signal, then compare it with official payroll and labor-market data.
- Prices: Check whether input-cost pressure broadens or eases. This is not a consumer-inflation measure and does not establish what firms can pass through.
- Supplier deliveries and inventories: These can help distinguish stronger demand from supply delays or stock accumulation; slower deliveries are not automatically evidence of stronger output.
What the PMI can—and cannot—tell investors
The report offers a timely survey snapshot of factory conditions, but it does not measure every U.S. business or directly predict stock prices, interest rates, or GDP. A stronger headline with weaker new orders, for example, can tell a more mixed story than the composite alone. Actual market moves depend on the released details, expectations, valuations, and other information available at the time.
We will compare the new report with this August baseline after it is released. For the week’s other scheduled data, see our September 28–October 2 U.S. economic calendar, Q2 GDP third-estimate update, and September Consumer Confidence report.
ISM Manufacturing PMI FAQ
What time is the ISM Manufacturing PMI on October 1, 2026?
ISM schedules the report for 10:00 a.m. Eastern Time on Thursday, October 1, 2026.
What was the latest ISM Manufacturing PMI reading?
The latest published reading before the September report was 54.6 for August 2026, down 1.0 point from July and the eighth consecutive month of manufacturing expansion.
Does a PMI of 54.6 mean manufacturing output grew 4.6%?
No. The PMI is a diffusion index, not a percentage growth rate. A value above 50 indicates that expansion responses outweighed contraction responses under the survey’s methodology.
Is the ISM Manufacturing PMI the same as the S&P Global PMI?
No. ISM and S&P Global publish separate surveys with different panels and methodologies. Their readings should be attributed to the publisher and not treated as one continuous series.