U.S. Manufacturing PMI Remains Stable Despite Global Uncertainty

• U.S. PMI came in at 52.7 and stayed above the 50 expansion line. Dan Gambardello noted that in a recent post.
• The ISM Manufacturing PMI matched March’s reading and is at its highest level since August 2022.
• Jerome Powell said the U.S. economy remains “quite resilient” and could grow above 2% this year.

U.S. manufacturing activity stayed in expansion territory in April as the ISM Manufacturing PMI held at 52.7. Dan Gambardello noted on X that the reading remained above 50 despite wide global uncertainty, adding that the U.S. economy looked resilient.

The stable reading matched March’s level and the highest point since August 2022, though it missed forecasts for 53.0. However, the details showed mixed factory conditions as stronger orders came with weaker employment and higher cost pressure.

U.S. PMI Holds Above 50

Trading Economics data showed the ISM Manufacturing PMI remained unchanged at 52.7 in April 2026. A reading above 50 signals expansion, while a reading below 50 signals contraction across the manufacturing sector.

New orders improved to 54.1 from 53.5 in March, showing faster demand growth during the month. Meanwhile, supplier deliveries rose to 60.6 from 58.9, indicating longer delivery times across manufacturing supply chains.

Source: TradingEconomics

Production continued to expand, but the pace slowed to 53.4 from 55.1. Employment weakened more sharply, falling to 46.4 from 48.7 and marking its steepest decline in four months.

Notably, prices rose at the fastest pace since late 2021. The increase came as oil and diesel costs moved higher during the Middle East conflict, adding cost pressure for manufacturers.

Sentiment Stays Mixed

Susan Spence, chair of the ISM Manufacturing Business Survey Committee, said sentiment among panelists remained mixed in the second month of the Iran War. The survey showed 31% of comments were positive, while 69% were negative.

The war appeared in 47% of responses, making it one of the main issues cited by companies. Tariffs appeared in 18% of comments, and some respondents mentioned both issues in the same response.

Source: SPGlobal 

Meanwhile, the global manufacturing PMI also showed resilience, although momentum slowed. S&P Global data showed the global manufacturing PMI fell to 51.3 in March from a 44-month high of 51.8 in February.

Nevertheless, the global index stayed above 50 for an eighth straight month. The report said weaker demand growth, higher prices, and supply chain delays could weigh on future activity.

Powell Cites U.S. Resilience

Federal Reserve Chair Jerome Powell said the U.S. economy has been “quite resilient” despite the energy shock from the Iran war. He said growth could remain above 2% this year, supported by consumer spending and business investment.

“Growth is really solid across our economy,” Powell said. He added that consumer spending was holding up and that demand for data centers across the United States continued to drive investment.

Additionally, Powell said the Fed remained committed to bringing inflation back to 2%. He said inflation should ease over the year as the one-time effect of goods price pressure from last year’s tariffs fades.

The April PMI reading supports that mixed picture. U.S. factories stayed in expansion mode, new orders improved, and business activity held firm, while employment, prices, and global supply risks kept pressure on the outlook.

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