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.