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.