The US manufacturing sector expanded for the fifth consecutive month in May 2026, with the Manufacturing PMI reaching 54%, its highest level since May 2022. For overseas jewelry buyers, this signals robust demand and potential price pressures, particularly in raw materials and logistics, which directly impact sourcing costs for rings, earrings, necklaces, and other jewelry categories.
Key PMI Subindexes and Jewelry Supply Chain Impact
The New Orders Index rose to 56.8%, indicating strong demand growth for the fifth straight month. The Production Index increased to 54.3%, while the Employment Index remained in contraction at 48.6% but improved from April. Supplier Deliveries slowed for the sixth month, with the index holding at 60.6%, the highest since May 2022. This suggests longer lead times for jewelry components like findings, clasps, and packaging materials.
Price Pressures and Raw Material Costs
The Prices Index remained elevated at 82.1%, though slightly down from April's 84.6%. This continues to signal increasing costs for metals such as sterling silver, gold-plated brass, stainless steel, and titanium, as well as gemstones and pearls. The Inventories Index contracted at a slower rate, while the Imports Index grew to 53%, indicating steady inbound shipments of jewelry materials and finished goods.
Geopolitical and Trade Risks for Buyers
Panelists cited the Iran war in 42% of comments and tariffs in 18%, with 57% reporting pricing volatility. The Machinery and Transportation Equipment sectors noted shipment delays and fuel-related inflation, which can affect delivery timelines for OEM/ODM orders and bridal collections. The New Export Orders Index returned to expansion at 50.6%, a positive sign for overseas buyers sourcing from US-based suppliers.
What Buyers Should Watch
With 16 of 17 manufacturing industries reporting growth, including Fabricated Metal Products and Computer & Electronic Products, jewelry buyers should monitor supplier delivery performance and raw material pricing closely. The Customers' Inventories Index remains "too low," which is positive for future production but may lead to tighter supply for popular items like jewelry sets and pearl necklaces. Consider locking in prices or extending lead times for upcoming bridal and holiday collections.
Compliance and Logistics Signals
The Imports Index growth suggests smoother customs clearance and logistics for imported jewelry components. However, the Supplier Deliveries Index at 60.6% indicates persistent delays, likely due to geopolitical tensions and fuel costs. Buyers should factor in potential shipping disruptions and consider diversifying sourcing to mitigate risks from the Iran conflict and tariff uncertainties.
Source: Read the original report | Published: June 01, 2026