United States Composite PMI

Last Release

Jul 31, 2024

Actual

Units In

Points

54.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
68.7 May 2021	27 Apr 2020	53.76 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 rose to 55.0 in July 2024 from 54.8 in June, the highest since April 2022, indicating continual growth over the past 18 months, flash estimates showed. The service sector outperformed manufacturing for the fourth month in a row, with manufacturing output declining for the first time since January. Overall, new work inflows increased at a slightly reduced rate due to a drop in manufacturing orders, but the service sector saw the fastest growth in new business in over a year. Despite this growth, employment slowed, business confidence fell due to rising political uncertainty, and competitive pressures kept price increases low, though input costs rose significantly.