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.