The IHS Markit US Composite PMI was revised higher to 50.3 in July of 2020 from a preliminary reading of 50 and 47.9 in the previous month. The latest reading signaled a fractional expansion in private sector business activity, but the first instance of growth since January. The upturn was largely driven by the resumption of business at manufacturers and service providers, but new business continued to fall. The decrease in new orders quickened slightly despite an expansion in manufacturing client demand. Private sector firms increased their workforce numbers, largely stemmed from an uptick in service sector staffing numbers as manufacturers reported a further fall. In contrast to the trend in client demand, firms expect output to rise over the coming year amid hopes of an end to the COVID-19 pandemic and an uptick in new sales. Finally, private sector companies recorded faster increases in output charges and input costs as supplier price hikes were partially passed on to customers.
Composite Pmi in the United States averaged 53.65 points from 2013 until 2020, reaching an all time high of 61 points in June of 2014 and a record low of 27 points in April of 2020. This page provides the latest reported value for - United States Composite PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Composite Pmi in the United States is expected to be 49.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in the United States to stand at 50.00 in 12 months time. In the long-term, the United States Composite PMI is projected to trend around 50.40 points in 2021 and 50.80 points in 2022, according to our econometric models.