The S&P Global US Services PMI fell to 51.6 in June of 2022 from 53.4 in May, the lowest in five months and well below forecasts of 53.5, a preliminary estimate showed. Primary downward pressure came from a sharp fall in new orders, with demand falling for the first time since July 2020, while new export orders decreased at the fastest pace since December 2020. On top of that, the rate of job creation eased o the softest in four months. Meanwhile, input prices eased to a five-month low while the pace of output charge also softened to the lowest since March 2021. Finally, sentiment remained positive but was at its lowest since September 2020 amid a worsening outlook for infaltion and growth. source: Markit Economics

Services PMI in the United States averaged 54.48 points from 2013 until 2022, 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 June of 2022.

Services 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 Services PMI is projected to trend around 50.80 points in 2023, according to our econometric models.

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United States Services PMI



Related Last Previous Unit Reference
Services PMI 51.60 53.40 points Jun 2022
Manufacturing PMI 52.40 57.00 points Jun 2022
Composite PMI 51.20 53.60 points Jun 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
51.60 53.40 70.40 26.70 2013 - 2022 points Monthly

News Stream
US Services Sector Growth Hits 5-Month Low
The S&P Global US Services PMI fell to 51.6 in June of 2022 from 53.4 in May, the lowest in five months and well below forecasts of 53.5, a preliminary estimate showed. Primary downward pressure came from a sharp fall in new orders, with demand falling for the first time since July 2020, while new export orders decreased at the fastest pace since December 2020. On top of that, the rate of job creation eased o the softest in four months. Meanwhile, input prices eased to a five-month low while the pace of output charge also softened to the lowest since March 2021. Finally, sentiment remained positive but was at its lowest since September 2020 amid a worsening outlook for infaltion and growth.
2022-06-23
US Services PMI Revised Slightly Lower: S&P Global
The S&P Global US Services PMI was revised slightly lower to 53.4 in May of 2022 from a preliminary of 53.5, and down from 55.6 in April to signal the slowest rate of expansion since January. Domestic and foreign client demand weakened in part due to hikes in selling prices and supplier delivery delays. Although output charges increased at a slower rate than April's survey high, the rise was marked overall and reflected soaring input prices, which increased at the sharpest pace on record. The rate of job creation was broadly in line with April's recent high, with firms noting the filling of long-held vacancies and greater staffing numbers in response to new order inflows. Finally, confidence picked up from that seen in April and was strong overall.
2022-06-03
US Services Sector Slows More than Expected: Markit
The S&P Global US Services PMI fell to 53.5 in May of 2022 from 55.6 in the previous month, the lowest in four months and below market consensus of 55.2, a preliminary estimate showed. Although the rise was supported by increased client demand, the pace of expansion was reportedly weighed down by hikes in selling prices and concerns over higher interest rates. Similarly, new business rose at a solid but softer pace in May. The rate of growth in new sales was the slowest since August 2020 and below the series average. New export business at service providers rose strongly, but at the slowest rate since the start of the year. On the price front, service providers registered the fastest rise in input prices on record in May while the rate of charge inflation eased from April’s record high and was the slowest for three months. Meanwhile, optimism among service sector firms strengthened.
2022-05-24