The IHS Markit US Services PMI was revised higher to 58.0 in November 2021 from a preliminary of 57.0. Business activity and new orders continued to rise at strong paces. Although output continued to rise at a pace well above the survey’s long-run average, supply and labor issues hampered activity to result in a modest easing in the rate of expansion. Despite employment rising at the fastest pace since June, firms continued to struggle to work through backlogs of work, which rose at the second-fastest pace on record. Meanwhile, cost burdens surged higher. The rate of input price inflation accelerated to the quickest since May and the second highest on record amid supply chain disruption and soaring wage bills. The pace of increase in selling prices slipped slightly, but remained marked overall. Finally, the level of optimism was the strongest since June amid hopes of greater client demand, increased stability in supply chains and an end to COVID-19 uncertainty. source: Markit Economics

Services PMI in the United States averaged 54.45 points from 2013 until 2021, reaching an all time high of 70.40 points in May of 2021 and a record low of 26.70 points in April of 2020. This page provides the latest reported value for - United States Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Services PMI in the United States is expected to be 55.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Services PMI is projected to trend around 50.80 points in 2022, according to our econometric models.

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United States Services PMI


Related Last Previous Unit Reference
Services PMI 58.00 58.70 points Nov/21
Manufacturing PMI 58.30 58.40 points Nov/21
Composite PMI 57.20 57.60 points Nov/21

News Stream
US November Services PMI Revised Higher: Markit
The IHS Markit US Services PMI was revised higher to 58.0 in November 2021 from a preliminary of 57.0. Business activity and new orders continued to rise at strong paces. Although output continued to rise at a pace well above the survey’s long-run average, supply and labor issues hampered activity to result in a modest easing in the rate of expansion. Despite employment rising at the fastest pace since June, firms continued to struggle to work through backlogs of work, which rose at the second-fastest pace on record. Meanwhile, cost burdens surged higher. The rate of input price inflation accelerated to the quickest since May and the second highest on record amid supply chain disruption and soaring wage bills. The pace of increase in selling prices slipped slightly, but remained marked overall. Finally, the level of optimism was the strongest since June amid hopes of greater client demand, increased stability in supply chains and an end to COVID-19 uncertainty.
2021-12-03
US Service Sector Growth Eases in November
The IHS Markit US Services PMI dropped to 57.0 in November 2021, from 58.7 in the previous month and below market consensus of 59.0, a preliminary estimate showed. Still, the latest reading signaled a sharp expansion in the service sector activity on the back of greater travel both domestically and internationally and the further easing of COVID-19 restrictions. New business growth slowed to the slowest since August 2020, although it remained strong overall as firms acquired new clients and new projects. Meanwhile, pressure on capacity persisted amid labor shortages, with backlogs of work rising at the second-fastest pace on record. On the price front, input cost inflation hit a six-month high and the rate of charge inflation reached a fresh series high.
2021-11-23
US Services Sector Growth at 3-Month High: Markit
The IHS Markit US Services PMI was revised higher to 58.7 in October of 2021 from a preliminary of 58.2. The latest expansion was sharp overall and the quickest since July. The upturn was faster than the series average, with firms linking the increase to greater client demand and a further rise in new business. The rise in output was the quickest for three months and was supported by a stronger expansion in new business. In line with greater new order inflows, firms signalled the fastest increase in backlogs of work since data collection began in October 2009, despite a faster pace of job creation. Nonetheless, concerns regarding labor shortages and unstable supply chains led business confidence to drop to an eight-month low. Meanwhile, the rate of cost inflation eased to an eight-month low, despite being quicker than any pace of increase seen before March 2021. In response to a further rise in costs, firms raised their selling prices at the fastest rate on record.
2021-11-03

United States Services PMI
Markit US Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 400 private sector companies covering transport and communication, financial intermediaries, business and personal services, computing & IT and hotels and restaurants. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.