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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Manufacturing Production MoM fell to 0.0% in May 2026
FMPMonthlyReleased June 2026
US Manufacturing Production MoM fell to 0.0% in May 2026, released June 2026, down 0.7% from April's 0.7% reading. The reading missed the 0.2% consensus by 0.2%. The print is running well below the 12-month average of 0.09%. Over the past 3 months, Manufacturing Production MoM averaged 0.25%, vs 0.15% in the prior 3-month window. The reading is in the 37th percentile of the trailing 24-month range.
Latest Release
0
Actual
0.2
Consensus
0.7
Previous
Median Absolute Error
±0.21 percentage points
across last 12 releases
Last Call
Jun 2026
Predicted: 0.4
Actual: 0
Error: +0.4
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| NZD/USD | ▼ Inverse | −0.74 | FOREX | Moves against | → View |
| AUD/USD | ▼ Inverse | −0.69 | FOREX | Moves against | → View |
| S&P 500 | ▼ Inverse | −0.65 | INDEX | Moves against | → View |
| USD/CHF | ▲ Direct | +0.59 | FOREX | Moves with | → View |
| USD/JPY | ▲ Direct | +0.57 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Manufacturing Production MoM (United States) was reported at 0% in June 2026. This missed the market consensus of 0.2% by 0.2%. The reading fell from the previous value of 0.7%. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged 0.15%, ranging from -0.4% to 0.6% across 10 releases.
WHY IT MATTERS
The trailing three releases averaged 0.27%, up from the prior three at 0.13%. Volatility over the past year (σ 0.28%) is lower than the prior year (σ 0.82%). In June readings over the past 3 years, Manufacturing Production MoM has averaged 0.33%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with NZD/USD (Bearish NZD). A secondary relationship exists with AUD/USD, negatively correlated (Bearish AUD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.21%.
WHAT TO WATCH NEXT
The next release is scheduled for July 17, 2026. Same-country events in the next 14 days include Import Prices MoM (Jul 17) and Building Permits (Jul 17).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Manufacturing Production MoM - US
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About Manufacturing Production MoM — United States
DEFINITION
Manufacturing Production MoM (Month-over-Month) is a key economic indicator that measures the change in the total output of goods produced by the manufacturing sector in a given month. This indicator provides valuable insights into the health and performance of the manufacturing industry, which is a crucial component of a country's overall economic growth. A positive change in Manufacturing Production MoM indicates an increase in production and can be seen as a sign of economic expansion, while a negative change may signal a decline in manufacturing activity. This indicator is closely monitored by investors, policymakers, and analysts to make informed decisions and forecasts about the state of the economy.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 0 %, consensus 0.2 %. Prior reading (May 2026): 0 %. Before that (May 2026): 0 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with NZD/USD (Bearish NZD, r=-0.74) — a useful reference for forex-focused traders.
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Economic Calendar - US Events
| Friday, July 17, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | US | Import Prices YoY | 6.7 | 5.4 | 5.40 | Low | |
| 12:30 | US | Housing Starts | 1.177 | 1.2 | 1.20 | High | |
| 13:15 | US | Industrial Production YoY | 1.7 | 1.5 | 0.95 | Low | |
| 13:15 | US | Manufacturing Production YoY | 1.4 | 1 | 0.25 | Low | |
| 13:15 | US | Capacity Utilization | 76.2 | 76.7 | 76.40 | Low | |