The US Composite PMI fell to 55.9 in October 2026 from 58.4 in September, its lowest reading in three months and below the preliminary estimate of 57.6, as both manufacturing output and services activity recorded weaker gains. Nevertheless, new business continued to increase sharply, supported primarily by strong demand in the services sector, while overall employment growth remained positive. Cost pressures also stayed elevated, despite easing somewhat from September, and businesses raised selling prices at the fastest pace since August 2022, suggesting that inflationary pressures remain a concern. Meanwhile, confidence in the business outlook weakened, falling to its lowest level since May. Overall, the survey points to continued economic expansion, but slower momentum, persistent pricing pressures and deteriorating business confidence indicate growing challenges for the private sector. source: S&P Global

Composite PMI in the United States decreased to 55.90 points in October from 58.40 points in September of 2026. Composite PMI in the United States averaged 53.73 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 decreased to 55.90 points in October from 58.40 points in September of 2026. Composite PMI in the United States is expected to be 54.00 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 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 Expands Less Than Previously Thought
The US Composite PMI fell to 55.9 in October 2026 from 58.4 in September, its lowest reading in three months and below the preliminary estimate of 57.6, as both manufacturing output and services activity recorded weaker gains. Nevertheless, new business continued to increase sharply, supported primarily by strong demand in the services sector, while overall employment growth remained positive. Cost pressures also stayed elevated, despite easing somewhat from September, and businesses raised selling prices at the fastest pace since August 2022, suggesting that inflationary pressures remain a concern. Meanwhile, confidence in the business outlook weakened, falling to its lowest level since May. Overall, the survey points to continued economic expansion, but slower momentum, persistent pricing pressures and deteriorating business confidence indicate growing challenges for the private sector.
2026-11-04
US Business Activity Growth Holds Close to 5-Year High
The US Composite PMI eased to 57.6 in October 2026 from 58.4 in September, a two-month low, but remained firmly in expansion territory and signalled the second-strongest increase in business activity since March 2022. Growth in new orders strengthened to its highest level in more than four-and-a-half years, while export sales recorded their largest gain since May 2022. Employment also remained strong, rising at its fastest pace since June 2022 as companies increased staffing to meet demand and address growing backlogs. However, mounting cost pressures drove selling-price inflation to its highest level since August 2022. Input costs rose at their fastest pace since November 2022, excluding September’s increase. Meanwhile, business confidence for the year ahead weakened slightly but remained the second-highest reading recorded this year.
2026-10-23
US Business Growth Confirmed at Over 5-Year High
The S&P Global US Composite PMI rose to 58.4 in September 2026 from 56 in August, matching the flash estimate and marking the strongest expansion in private-sector business activity in more than five years. Growth accelerated across both manufacturing and services, pointing to broad-based strength in the US economy. The increase in output was supported by a rapid rise in new orders, indicating that demand remained robust during the month. Stronger workloads also encouraged businesses to expand their workforces, with employment increasing at the fastest pace since June 2022. However, the stronger economic performance was accompanied by a renewed build-up in cost pressures. Input prices rose at their sharpest rate since October 2022, adding to concerns about inflationary pressures across the private sector. Companies responded by raising their selling prices at a faster pace in September, suggesting that higher input costs were increasingly being passed on to customers.
2026-10-05