AI Data Insight
In Q4 2026 (October), the U.S. ISM Manufacturing Customers' Inventories Index remained flat at 41.6, indicating that end-user inventories are still at historically low levels. Driven by restocking demand, the overall ISM Manufacturing PMI rose to 55.5, expanding for the 10th consecutive month and beating market expectations of 54.6. Although physical production momentum is strong, sticky inflation and geopolitical factors continue to depress purchasing managers' sentiment.