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.

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United States Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
54.40 55.10 70.40 26.70 2013 - 2021 points Monthly


News Stream
US Services Sector Rises the Least in 14 Months
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.
2021-09-23
US Service Sector Expands the Least in 8 Months
The IHS Markit US Services PMI stood at 55.1 in August 2021, little-changed from a preliminary estimate of 55.2 and well below July's 59.9. The latest data signaled a strong upturn in business activity across the U.S. service sector, albeit the slowest since December 2020. New order growth slowed to the weakest since August 2020, with foreign client demand fell at the fastest pace in 2021 to date. Meanwhile, service providers registered broadly unchanged employment levels, while backlogs of work rose markedly and at the fastest pace since data collection began in October 2009. On the price front, rates of input cost and output charge inflation quickened slightly as hikes in supplier and wage bills were partly passed on to clients. Finally, business expectations improved in August, due to hopes of an end to pandemic uncertainty and a further boost to client demand.
2021-09-03
US Service Sector Growth Slows to 8-Month Low
The IHS Markit US Services PMI dropped to 55.2 in August 2021, a third straight month of decline from May's all-time high of 70.4 and well below market expectations of 59.5, a preliminary estimate showed. The latest reading pointed to the weakest pace of expansion in the service sector since December 2020, due to labor shortages, the spread of the Delta variant and supply chain disruptions. New business growth slowed to the softest in a year, with new export orders falling for the first time since February. In addition, the rate of job creation was the slowest since February amid a high turnover in staff. Meanwhile, input costs rose markedly and at one of the fastest paces on record amid significant hikes in supplier prices and greater wage bills. Subsequently, service providers raised their selling prices at a sharper rate. Finally, business expectations across the service sector remained upbeat.
2021-08-23
US Services Sector Growth at 5-Month Low: Markit
The IHS Markit US Services PMI was revised slightly higher to 59.9 in July of 2021, from a preliminary estimate of 59.8. The upturn softened to the slowest since February, but was much quicker than the series average. Contributing to the less marked upturn in output was a softer rise in new business. Nonetheless, domestic and foreign client demand remained historically strong. In line with larger inflows of new business, backlogs of work rose solidly and at the joint-fastest pace since August 2020. Efforts to ease pressure on capacity was hampered by reports of a shortage of suitable candidates. Meanwhile, input costs and output charges rose substantially despite their respective rates of inflation softening again from May's historic highs. Finally, expectations regarding the outlook for output over the coming 12 months remained strongly upbeat but e degree of confidence dropped to a five-month low.
2021-08-04

United States Services PMI
Markit US Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 400 private sector companies covering transport and communication, financial intermediaries, business and personal services, computing & IT and hotels and restaurants. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.