Will ISM Manufacturing PMI be below 47.0 in May?

This is a market about the ISM Manufacturing Purchasing Managers' Index (PMI) for May 2026, as reported by the Institute for Supply Management (ISM). A reading above 50 indicates expansion in the manufacturing sector relative to the previous month; a reading below 50 indicates contraction. This market will resolve to the bracket containing the ISM Manufacturing PMI for May 2026 according to the monthly ISM Manufacturing PMI Report On Business. The resolution source for this market will be the ISM Manufacturing PMI Report On Business released for May 2026 (https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/), currently scheduled to be released on June 1, 2026, at 10:00 AM ET. Resolution of this market will take place upon release of the aforementioned data. Note: although ISM describes the PMI reading using the term "percent" in its official release (e.g., "The Manufacturing PMI registered 52.7 percent"), the PMI is a diffusion index, not a true percentage. For the purposes of this market, the PMI reading will be treated as a plain numerical value, consistent with how the index is universally quoted in financial markets. Note: The ISM Manufacturing PMI is reported to one decimal point. Thus, this is the level of precision that will be used when resolving this market. If ISM does not release the relevant figures on the scheduled date, this market may remain open up until the scheduled release time of the next ISM Manufacturing PMI report (https://www.ismworld.org/supply-management-news-and-reports/reports/rob-report-calendar/). If the information is not released by that time, this market will resolve according to the figures of the most recent previous month with available data.