The S&P Global US Composite PMI came in at 54.3 in May 2023, little-changed from a preliminary estimate of 54.5 and above April's final reading of 53.4. The latest PMI signaled the fastest expansion in business activity for just over a year, driven by the service sector. This helped offset a weaker rise in manufacturing production. Total new business continued to increase, despite a sharp drop in overseas goods trade, employment rose at a solid pace and backlogs of work fell. Finally, inflationary pressures eased. source: Markit Economics

Composite PMI in the United States averaged 53.96 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 June of 2023.

Composite PMI in the United States is expected to be 53.00 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
Manufacturing PMI 48.40 50.20 points May 2023
Services PMI 54.90 53.60 points May 2023
Composite PMI 54.30 53.40 points May 2023

United States Composite PMI
In the United States, the S&P Global Composite PMI Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across both manufacturing and service sectors. The index is based on data collected from a representative panel of over 800 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
54.30 53.40 68.70 27.00 2013 - 2023 points Monthly
SA

News Stream
US Output Growth Quickens to Over 1-Year High
The S&P Global US Composite PMI came in at 54.3 in May 2023, little-changed from a preliminary estimate of 54.5 and above April's final reading of 53.4. The latest PMI signaled the fastest expansion in business activity for just over a year, driven by the service sector. This helped offset a weaker rise in manufacturing production. Total new business continued to increase, despite a sharp drop in overseas goods trade, employment rose at a solid pace and backlogs of work fell. Finally, inflationary pressures eased.
2023-06-05
US Output Growth Hits 13-Month High
The S&P Global US Composite PMI rose to 54.5 in May 2023, up from 53.4 the month before, a preliminary estimate showed. The latest reading signaled the fastest pace of expansion in the country's private sector since April 2022, as service sector growth accelerated to a 13-month high helped by stronger demand conditions. Meanwhile, manufacturing production rose only marginally. Total new orders rose for the third month running, despite a 12th consecutive month of decline in exports, and employment levels increased at the fastest pace since July 2022. On the price front, manufacturers recorded a fall in input prices for the first time in three years while cost burdens at service providers continued to rise markedly. Output charge inflation, on the other hand, remained elevated by historical standards of the survey. Finally, business expectations for the coming year improved on hopes of a pick-up in demand conditions and plans to invest in new products and marketing.
2023-05-23
US Output Growth Accelerates to 11-Month High
The S&P Global US Composite PMI came in at 53.4 in April 2023, little-changed from the preliminary estimate of 53.5 and showing a solid upturn in private sector business activity that was the fastest since May 2022. The faster increase in activity was due to both the manufacturing and service sectors experiencing quicker growth. Despite a continued decline in new export orders, new business increased at a faster pace, and employment grew the most since July 2022. However, price pressures regained momentum in April, as input costs and output charges rose at sharper rates.
2023-05-03