The S&P Global US Composite PMI rose to 54.5 in July 2026 from 51.9 in June, exceeding both the preliminary estimate of 53.6 and marking the strongest expansion in private sector activity since October 2025. The improvement was driven by faster growth in the services sector, while manufacturing output continued to expand at a solid pace. New business increased at the fastest rate in 19 months, business confidence climbed to its highest level since last November, and private sector employment returned to growth for the first time since April. On the price front, input cost inflation accelerated to its highest level since November 2022, pushing output price inflation to a one-year high. source: S&P Global

Composite PMI in the United States increased to 54.50 points in July from 51.90 points in June of 2026. Composite PMI in the United States averaged 53.67 points from 2013 until 2026, 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.

Composite PMI in the United States increased to 54.50 points in July from 51.90 points in June of 2026. Composite PMI in the United States is expected to be 52.50 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 2027, according to our econometric models.



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. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
US Private Sector Growth Hits Nine-Month High in July
The S&P Global US Composite PMI rose to 54.5 in July 2026 from 51.9 in June, exceeding both the preliminary estimate of 53.6 and marking the strongest expansion in private sector activity since October 2025. The improvement was driven by faster growth in the services sector, while manufacturing output continued to expand at a solid pace. New business increased at the fastest rate in 19 months, business confidence climbed to its highest level since last November, and private sector employment returned to growth for the first time since April. On the price front, input cost inflation accelerated to its highest level since November 2022, pushing output price inflation to a one-year high.
2026-08-05
US Business Activity Growth Accelerates to 8-Month High
The S&P Global US Composite PMI rose to 53.6 in July 2026 from 51.9 in June, its highest level since November. Growth was driven by the services sector, where business activity accelerated to an 8-month high. Manufacturing output continued to expand but at a much slower pace, with factories reporting the weakest increases in production since March. Hiring increased for the first time in 3 months, while business confidence climbed to its highest level in 8 months. However, supply chain pressures intensified, with supplier delivery times deteriorating to the greatest extent in nearly four years amid ongoing conflict in the Middle East. Inflationary pressures also strengthened, as input cost inflation accelerated to a 14-month high and selling price inflation approached a 4-year peak. Looking ahead, the current momentum may not be sustained, as July hospitality spending received a temporary lift from the FIFA World Cup and celebrations marking the 250th anniversary of the US.
2026-07-24
US Business Activity Growth Slower than Initially Thought
The S&P Global US Composite PMI increased to 51.9 in June from 51.5 in May, though the reading came in below the preliminary estimate of 52.2. Manufacturing output continued to expand strongly, while services activity also accelerated, albeit at a modest pace. New business growth strengthened toward the end of the second quarter, and business confidence over the next 12 months improved. However, employment declined for a second consecutive month. On the pricing front, input cost inflation eased slightly but remained elevated, while output price inflation was largely unchanged from May. Both input and output price pressures continued to run well above their historical averages.
2026-07-06