The S&P Global US Composite PMI was revised higher to 47.7 in July of 2022 from a preliminary of 47.5, down from 52.3 in June to signal the first contraction in private sector business activity since June 2020. Despite a decrease in manufacturing new order inflows, total sales rose during July, as service providers signalled a return to growth in client demand. New export orders weighed on overall new business again, as foreign client demand deteriorated. Although still rising markedly, the rate of cost inflation softened to the slowest for six months. Hikes in input prices were linked to higher fuel, transportation, wage and material costs which continued to be passed through to customers. Nonetheless, output charges increased at the slowest pace since March 2021. Private sector firms expanded their workforce numbers at the slowest pace since January. Pressure on capacity eased at service providers, while manufacturers only recorded a slight uptick in work-in-hand. source: Markit Economics

Composite PMI in the United States averaged 54.43 points from 2013 until 2022, reaching an all time high of 68.70 points in May of 2021 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 2022.

Composite PMI in the United States is expected to be 49.00 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 51.80 points in 2023 and 50.80 points in 2024, according to our econometric models.

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United States Composite PMI



Related Last Previous Unit Reference
Services PMI 47.30 52.70 points Jul 2022
Manufacturing PMI 52.20 52.70 points Jul 2022
Composite PMI 47.70 52.30 points Jul 2022

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
47.70 52.30 68.70 27.00 2013 - 2022 points Monthly
SA

News Stream
US Composite PMI Revised Higher
The S&P Global US Composite PMI was revised higher to 47.7 in July of 2022 from a preliminary of 47.5, down from 52.3 in June to signal the first contraction in private sector business activity since June 2020. Despite a decrease in manufacturing new order inflows, total sales rose during July, as service providers signalled a return to growth in client demand. New export orders weighed on overall new business again, as foreign client demand deteriorated. Although still rising markedly, the rate of cost inflation softened to the slowest for six months. Hikes in input prices were linked to higher fuel, transportation, wage and material costs which continued to be passed through to customers. Nonetheless, output charges increased at the slowest pace since March 2021. Private sector firms expanded their workforce numbers at the slowest pace since January. Pressure on capacity eased at service providers, while manufacturers only recorded a slight uptick in work-in-hand.
2022-08-03
US Business Activity Contracts for 1st Time in Over 2 Years
The S&P Global US Composite PMI registered 47.5 in July, down notably from 52.3 in June to signal a solid contraction in private sector output, flash estimates showed. The rate of decline was the sharpest since the initial stages of the pandemic in May 2020, as both manufacturers and service providers reported subdued demand conditions. New export orders fell for a second successive month and new orders returned to expansion territory but the increase was only modest and, with the exception of June’s decline, was the weakest in the past two years. Challenges retaining employees and some reports of cost cutting initiatives led to the weakest rise in staffing numbers since February. On the price front, the pace of input price inflation eased again from May’s series peak and was the softest for six months, and the pace of charge inflation slowed to the lowest since March 2021. Looking ahead, business confidence among US companies slipped to the lowest since September 2020.
2022-07-22
US Private Sector Activity Growth Eases Less than Expected
The S&P Global US Composite PMI was revised higher to 52.3 in June of 2022 from a preliminary of 51.2, down from 53.6 in May, the lowest since January. The slowdown in growth was broad based, with both manufacturing and services seeing weaker increases at the end of the second quarter. Business confidence also waned, dropping to the lowest since September 2020. A weaker expansion in output reflected a renewed contraction in new orders, the first in almost two years. New business was down across both monitored sectors, with new export orders also falling. Rates of input cost and output price inflation remained sharp in June, but eased amid softer demand conditions. The main positive from the latest surveys was a further marked increase in employment, with job creation led by the service sector.
2022-07-06