United States Services PMI

Last Release

Mar 31, 2024

Actual

51.7

Units In

Points

52.3

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
70.4 May 2021	26.7 Apr 2020	53.77 Points	2013-2024	Markit Economics

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.

Latest Updates

The S&P Global US Services PMI fell to a three-month low of 51.7 in March 2024 from 52.3 in February, slightly below forecasts of 52, and reflecting a loss of momentum in the service sector, according to preliminary estimates. New business growth softened and new business from abroad declined while employment increased. Meanwhile, inflationary pressures went up amid increasing wages business confidence improved also linked confidence to planned marketing activity.