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.

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United States Composite PMI


United States Composite PMI
In the United States, Markit Composite PMI Output Index tracks business trends across both manufacturing and service sectors (60 percent from the manufacturing sector and 40 percent from the services sector). The index is based on data collected from a representative panel of over 1,000 companies and follows variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity while below 50 points to contraction.
Actual Previous Highest Lowest Dates Unit Frequency
50.80 57.00 68.70 27.00 2013 - 2022 points Monthly
SA

Related Last Previous Unit Reference
Services PMI 50.90 57.60 points Jan/22
Manufacturing PMI 55.00 57.70 points Jan/22
Composite PMI 50.80 57.00 points Jan/22


News Stream
US Private Sector Growth Slows to 18-Month Low
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.
2022-01-24
US Private Sector Activity Expands Solidly in December
The IHS Markit US Composite PMI came in at 57.0 in December 2021, little-changed from a preliminary estimate of 56.9 and November's final reading of 57.2. The latest data signaled a steep increase in private sector business activity, mainly driven by strong growth in the service sector. New order growth was the quickest for five months, while the pace of job creation slowed to only a marginal rate, amid challenges hiring suitable workers and retaining current staff. Finally, input cost inflation hit a fresh series high in December, boosted by input shortages, transportation delays and upticks in labor costs, while selling prices also rose steeply.
2022-01-05
US Private Sector Growth Remains Strong in December
The IHS Markit US Composite PMI moved down to 56.9 in December 2021 from 57.2 in the previous month, but still signaling a strong rise in private sector business activity, a preliminary estimate showed. New order growth accelerated to a five-month high, largely driven by a faster rise in service sector new business, while the pace of job creation slowed amid reports of challenges securing suitable candidates and retaining staff. On the price front, input cost inflation hit a new high due to broad-based upticks in cost burdens, with a range of key materials noted higher in price, alongside soaring transportation and distribution fees. Still, prices charged rose at a slower pace, with some firms mentioning efforts to boost sales amid stronger competition. Finally, business confidence was the strongest in over a year on hopes of further upticks in client demand and that the impact of the Omicron variant is less severe than prior virus waves.
2021-12-16