US Business Activity Growth Accelerates to 8-Month High

2026-07-24 13:48 By Agna Gabriel 1 min. read

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.



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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
US Private Sector Activity Rises Faster
The S&P Global US Composite PMI rose to 52.2 in June of 2026 from 51.5 in the previous month, reflecting the sharpest pace of growth in the US private economic activity since January, according to a preliminary estimate. The expansion was supported by the largest growth in the manufacturing output in six years (57.7 vs 56.6 in May) and a sharper increase in services activity (51.3 vs 50.7). Total new orders grew, with those for services likely supported by the start of the Fifa World Cup, and manufacturing orders remaining attributable to clients front-running contracts before the war in the Middle East causes further supply disruptions. This was aligned with larger magnitude of supply chain delays in the period, driving prices to continue increasing at last month's pace. In turn, employment fell for a second month as companies attempted to cut costs. Looking ahead, firms' confidence was recorded at the highest since February.
2026-06-23