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Market Update
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March 2025
ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index increased by 0.7 points month on month (+1.3% m/m) to 53.5 in February 2025.
ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved down 1.2% (m/m) to 50.3 for February 2025; this value is stronger than the forecast of 50. The new orders sub-index scored at 48.6. The reading pointed to slower growth in the manufacturing sector as demand eased, production stabilized, and destaffing continued as companies experienced the first operational shock of the new administration’s tariff policy (Timothy Fiore, Chair of ISM).
January 2025
ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index increased by 2.0 points month on month (+3.8% m/m) to 54.1 in December 2024.
ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved up 0.9% (m/m) to 49.3 for December 2024; this value is weaker than the forecast of 50. The new orders sub-index scored at 52.5. The result reflected the softest pace of contraction in the US manufacturing sector since March, which was the sole period of expansion in the industry since September of 2022.
December 2024
ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index decreased by 3.9 points month on month (-7.0% m/m) to 52.1 in November 2024.
ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved up 1.9% (m/m) to 48.4 for November 2024; this value is weaker than the forecast of 50. The new orders sub-index scored at 50.4. The reading pointed to another albeit softer contraction in the manufacturing sector. New orders rebounded after seven months of contraction and production, employment and inventories contracted less.