United States Composite PMI

Last Release

Apr 30, 2024

Actual

50.9

Units In

Points

52.1

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
68.7 May 2021	27 Apr 2020	53.74 Points	2013-2024	Markit Economics

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.

Latest Updates

The S&P Global US Composite PMI declined to 50.9 in April 2024 from 52.1 in the previous month, signaling only a slight expansion in the country's private sector, which was the softest since December, a preliminary estimate showed. Activity increased at a slower pace across both the manufacturing and service sectors, with rates of growth easing to three- and five-month lows, respectively. Inflows of new orders declined for the first time in six months, and employment decreased for the first time since June 2020 amid signs of demand weakness due to elevated interest rates and inflationary pressures weighing on demand. Additionally, backlogs of work declined for the third month running. On the price front, both input costs and output charges rose at slower rates but remained high overall. Finally, business sentiment dipped to a five-month low.