The IHS Markit US Services PMI rose to a two-month high of 57.5 in January 2021 from 54.8 in the previous month, beating market expectations of 53.6, a preliminary estimate showed. The rate of expansion was the second-sharpest since March 2015 and steep overall. That said, the pace of new business growth softened at the start of 2021 as restrictions placed on firms due to the ongoing coronavirus disease pandemic dampened demand. The upturn was solid, however, with new business from abroad returning to growth. In line with a fractional reduction in backlogs of work, the pace of job creation eased across the service sector. Business optimism improved, however, as firms hoped for a speedy vaccine roll-out and a reduction in restrictions on movement. source: Markit Economics
Services PMI in the United States averaged 53.74 points from 2013 until 2021, reaching an all time high of 61 points in June of 2014 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 January of 2021.
Services PMI in the United States is expected to be 56.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in the United States to stand at 50.50 in 12 months time. In the long-term, the United States Services PMI is projected to trend around 50.80 points in 2022, according to our econometric models.