The S&P Global US Services PMI rose to 52.7 in January of 2026 from 52.5 in the previous month, revised upwards from the flash estimate of 52.5 and loosely aligned with the initial market expectations of 52.8. The period marked nearly three years of monthly growth in the US services output, outperforming those from other major economies. New sales rose at a sharper pace at the start of the year, as robust activity in the domestic market was enough to offset softness for foreign clients amid the tariffs passed by the US and their retaliatory measures. The steady capacity demand drove employment numbers to increase marginally. Meanwhile, increases in payrolls and cost pressures from tariffs lifted input inflation, although selling charges increased to a lesser extent. Looking forward, business confidence for the upcoming year fell to its lowest in three months. source: S&P Global

Services PMI in the United States increased to 52.70 points in January from 52.50 points in December of 2025. Services PMI in the United States averaged 53.82 points from 2013 until 2026, 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.

Services PMI in the United States increased to 52.70 points in January from 52.50 points in December of 2025. Services PMI in the United States is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Services PMI is projected to trend around 52.00 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Dallas Fed Services Index 2.70 -5.00 points Jan 2026
NY Fed Services Activity Index -16.10 -20.00 points Jan 2026
Richmond Fed Services Index -3.00 -6.00 points Jan 2026


United States Services PMI
The S&P Global US Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The index tracks variables such as sales, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The headline figure is the Services Business Activity Index, which is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. 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 Services Activity Revised Higher: S&P Global
The S&P Global US Services PMI rose to 52.7 in January of 2026 from 52.5 in the previous month, revised upwards from the flash estimate of 52.5 and loosely aligned with the initial market expectations of 52.8. The period marked nearly three years of monthly growth in the US services output, outperforming those from other major economies. New sales rose at a sharper pace at the start of the year, as robust activity in the domestic market was enough to offset softness for foreign clients amid the tariffs passed by the US and their retaliatory measures. The steady capacity demand drove employment numbers to increase marginally. Meanwhile, increases in payrolls and cost pressures from tariffs lifted input inflation, although selling charges increased to a lesser extent. Looking forward, business confidence for the upcoming year fell to its lowest in three months.
2026-02-04
US Services Activity Growth Stalls: S&P Global
The S&P Global US Services PMI was at 52.5 in January of 2026, remaining unchanged from the eight-month low in the previous month and slightly below market expectations of 52.8. Still, the period marked almost three years of consecutive monthly growth, outperforming other major economies. Inflows of new business moderated slightly from the previous month, with exports falling at the sharpest rate since 2022. The softer demand for capacity drove employment growth to ease, magnifying the impact of higher labor costs in the sector. Still, input cost inflation moderated despite remaining elevated, feeding into marginally lower output charge inflation. Looking forward, business confidence for the upcoming year fell to its lowest in three months.
2026-01-23
US Services Activity Falls to 8-Month Low: S&P Global
The S&P Global US Services PMI fell to 52.5 in December of 2025 from 54.1 in the previous month, revised lower from the preliminary estimate of 52.9 and below the initial market estimate of 54 to reflect the softest increase in the sector in eight months. New business growth dropped to its lowest in 20 months, with panelists noting higher uncertainty in market demand and lower consumer spending, citing tariffs as a key source of instability. Likewise, trade frictions drove export orders to fall the most since May. The softer demand for capacity and ongoing budget constraints drove employment volumes to inch lower for the first time in nine months. Meanwhile, input price inflation rose to a seven-month high due to tariffs and broad increases in supplier charges, magnifying the increase in labor expenses. Consequently, output charges rose to a four-month high. Still, business confidence remained positive with support from an outlook of interest rate cuts and expanding business plans.
2026-01-06