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.