The IHS Markit Services PMI for the US fell to 54.4 in September of 2021 from 55.1 in August and below market forecasts of 54, preliminary estimates showed. The reading pointed to the slowest growth in services activity since July of 2020 as new business eased for the 4th month running amid less robust demand conditions and ongoing COVID-19 worries. Total sales were also hampered by a quicker decline in new export orders, and one that was the fastest since December 2020. Employment levels were broadly unchanged during September, bringing an end to a 14-month sequence of job creation. Cost pressures remained elevated, as greater supplier prices and increased wage bills following incentives to entice workers pushed costs up. Firms sought to pass on higher prices to their clients through a marked rise in output charges. Meanwhile, the degree of optimism reached a three-month high amid hopes of stronger client demand and an end to the pandemic. source: Markit Economics
Services PMI in the United States averaged 54.37 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 September of 2021.
Services PMI in the United States is expected to be 54.40 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.