The IHS Markit US Composite PMI slumped to 50.8 in January 2022 from 57.0 in the previous month, signaling the slowest pace of expansion in business activity since July 2020, a preliminary estimate showed. Both manufacturing and service sector firms reported near-stalled output, amid reports of softer demand conditions, worsening supply chain disruptions and labor shortages linked to the Omicron wave. New orders continued to rise strongly, albeit at the weakest rate since December 2020, while export order growth eased due to renewed restrictions in key export markets and raw material shortages. In addition, the rise in employment was only modest, with backlogs of work increasing solidly again. On the price front, input cost inflation softened to the lowest since last March, while the pace of selling price inflation was the third-fastest on record. Finally, business confidence weakened due to concerns regarding further price rises and client responses to inflationary pressures. source: Markit Economics
Composite PMI in the United States averaged 54.46 points from 2013 until 2022, reaching an all time high of 68.70 points in May of 2021 and a record low of 27 points in April of 2020. This page provides the latest reported value for - United States Composite PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Composite PMI in the United States is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Composite PMI is projected to trend around 51.80 points in 2023 and 50.80 points in 2024, according to our econometric models.