The S&P Global US Composite PMI came in at 51.7 in May 2026, the same as in April, continuing to point to resilient private sector activity although the rate remained more moderate than early in the year, preliminary estimates showed. Improved performance in manufacturing (55.3, the highest in 48 months vs 54.5) was countered by a sluggish service sector (50.9 vs 51). However, factory growth was again in part supported by temporary stock building and both sectors reported that order book growth had been somewhat subdued by the ongoing war in the Middle East, most notably in terms of export sales. Surging input costs, which jumped at the steepest rate since late-2022 on the back of rising war-related supply constraints and steep energy cost increases, were not only cited as causing lower sales but also contributed to steepening job losses and a further rise in selling price inflation to its highest since August 2022. source: S&P Global

Composite PMI in the United States remained unchanged at 51.70 points in May. Composite PMI in the United States averaged 53.68 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 remained unchanged at 51.70 points in May. Composite PMI in the United States is expected to be 50.60 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 Steady in May
The S&P Global US Composite PMI came in at 51.7 in May 2026, the same as in April, continuing to point to resilient private sector activity although the rate remained more moderate than early in the year, preliminary estimates showed. Improved performance in manufacturing (55.3, the highest in 48 months vs 54.5) was countered by a sluggish service sector (50.9 vs 51). However, factory growth was again in part supported by temporary stock building and both sectors reported that order book growth had been somewhat subdued by the ongoing war in the Middle East, most notably in terms of export sales. Surging input costs, which jumped at the steepest rate since late-2022 on the back of rising war-related supply constraints and steep energy cost increases, were not only cited as causing lower sales but also contributed to steepening job losses and a further rise in selling price inflation to its highest since August 2022.
2026-05-21
US Private Sector Activity Grows Less than Initially Thought
The S&P Global US Composite PMI was revised down to 51.7 in April 2026 from a preliminary 52.0, yet still improved from March’s 50.3. Growth was driven by a rebound in services and stronger manufacturing, though new orders and employment saw only modest increases. Business confidence improved from March. Price pressures intensified, with input cost inflation hitting the highest level of 2026 so far, and selling prices rising at the fastest pace in nine months.
2026-05-05
US Business Activity Rebounds: S&P
The S&P Global flash US Composite PMI increased to 52 in April 2026, the highest in three months, from 50.3 in March which was the lowest since August 2023. The reading showed that US business activity growth recovered slightly following the outbreak of war in the Middle East. However, the overall pace of expansion remained subdued, most notably in the services economy (51.3 vs 49.8) where demand faltered. New business placed at service providers rose at the slowest rate seen over the past two years, led by an ongoing decline in exports. While manufacturing output recorded the strongest gain in four years (55.7 vs 53.2), the increase in part reflected stock building in the face of concerns over supply availability and price hikes. Input cost inflation accelerated and supply delays worsened at a pace not seen since mid-2022, contributing to the largest monthly jump in average selling prices for goods and services since July 2022. Also, employment rose only marginally.
2026-04-23