The S&P Global US Composite PMI improved to 46.6 in January 2023 from 45.0 in the previous month but still pointed to a seventh consecutive month of contraction in the private sector activity, a preliminary estimate showed. Activity in both service and manufacturing sectors fell at a slower pace, even as companies continued to highlight subdued customer demand and the impact of high inflation on client spending. New orders dropped the least for three months amid high inflation, rising interest rates and customer hesitancy, while employment rose marginally and backlogs of work decreased solidly. On the price front, input cost inflation quickened from December, bringing to an end a seven-month sequence of moderating rises, while the rate of output charge inflation was unchanged. Finally, business confidence strengthened to a four-month high, amid hopes of a resurgence in customer demand as 2023 progresses. source: Markit Economics

Composite PMI in the United States averaged 54.01 points from 2013 until 2023, reaching an all time high of 68.70 points in May of 2021 and a record low of 27.00 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 January of 2023.

Composite PMI in the United States is expected to be 48.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Composite PMI is projected to trend around 53.00 points in 2024, according to our econometric models.

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United States Composite PMI



Related Last Previous Unit Reference
Services PMI 46.60 44.70 points Jan 2023
Manufacturing PMI 46.80 46.20 points Jan 2023
Composite PMI 46.60 45.00 points Jan 2023

United States Composite PMI
In the United States, Markit Composite PMI Output Index tracks business trends across both manufacturing and service sectors (60 percent from the manufacturing sector and 40 percent from the services sector). The index is based on data collected from a representative panel of over 1,000 companies and follows variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity while below 50 points to contraction.
Actual Previous Highest Lowest Dates Unit Frequency
46.60 45.00 68.70 27.00 2013 - 2023 points Monthly
SA

News Stream
US Private Sector Contracts for 7th Month
The S&P Global US Composite PMI improved to 46.6 in January 2023 from 45.0 in the previous month but still pointed to a seventh consecutive month of contraction in the private sector activity, a preliminary estimate showed. Activity in both service and manufacturing sectors fell at a slower pace, even as companies continued to highlight subdued customer demand and the impact of high inflation on client spending. New orders dropped the least for three months amid high inflation, rising interest rates and customer hesitancy, while employment rose marginally and backlogs of work decreased solidly. On the price front, input cost inflation quickened from December, bringing to an end a seven-month sequence of moderating rises, while the rate of output charge inflation was unchanged. Finally, business confidence strengthened to a four-month high, amid hopes of a resurgence in customer demand as 2023 progresses.
2023-01-24
US Private Sector Output Falls Sharply at End of 2022
The S&P Global US Composite PMI was revised slightly higher to 45.0 in December 2022, up from a preliminary estimate of 44.6 and compared with November's 46.4. Still, the latest reading indicated a strong decline in private sector business activity, led by sharp declines in both manufacturing and services output. Overall new business dropped the most since May 2020 amid a broad-based downturn in client demand, while the rate of job creation was only marginal overall and the second-weakest since September 2021. On the price front, inflationary pressures eased notably at the end of the year, as cost burdens rose at the slowest pace since October 2020 and selling prices increased the least in over two years.
2023-01-05
US Business Activity Contraction Deepens at End of 2022
The S&P Global US Composite PMI fell to 44.6 in December 2022 from 46.4 in the previous month, signaling the joint-fastest decline in business activity for over two-and-a-half years, a preliminary estimate showed. Excluding the initial pandemic period, the contraction was the joint-sharpest since 2009, as both manufacturers and service providers reported steeper decreases in output. New business declined at a faster pace in December, with new export orders dropping for a seventh month in a row. Meanwhile, employment rose only marginally and backlogs of work declined for the third consecutive month. On the price front, input cost inflation was the slowest since October 2020, while the rate of selling price inflation eased to over two-year low. Finally, business sentiment was among the weakest in over two years, as higher borrowing costs, inflation and a broad economic slowdown dampened optimism.
2022-12-16