The IHS Markit US Services PMI rose to 36.9 in May 2020 from an all-time low of 26.7 in the previous month, above market consensus of 30, a preliminary estimate showed. The latest reading still signaled one of the most severe contractions in service sector activity on record, driven by further weakness in domestic and foreign client demand. Total sales fell at the second-fastest rate in the series history and employment continued to decline. On the price front, both input costs and output charges were down in May.

Services PMI in the United States averaged 53.67 points from 2013 until 2020, reaching an all time high of 61 points in June of 2014 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 May of 2020. source: Markit Economics

Services PMI in the United States is expected to be 37.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in the United States to stand at 48.00 in 12 months time. In the long-term, the United States Services PMI is projected to trend around 50.50 points in 2021 and 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
36.90 26.70 61.00 26.70 2013 - 2020 points Monthly


News Stream
US Service Sector Contracts at Softer Pace
The IHS Markit US Services PMI rose to 36.9 in May 2020 from an all-time low of 26.7 in the previous month, above market consensus of 30, a preliminary estimate showed. The latest reading still signaled one of the most severe contractions in service sector activity on record, driven by further weakness in domestic and foreign client demand. Total sales fell at the second-fastest rate in the series history and employment continued to decline. On the price front, both input costs and output charges were down in May.
2020-05-21
US Services PMI Drops to Record Low
The IHS Markit US Services PMI was revised lower to 26.7 in April 2020 from a preliminary estimate of 27.0, pointing to the steepest fall in service sector activity since the series began in October 2009 as lockdown measures to contain the spread of Covid-19 hit consumer-facing industries particularly hard. New business and employment contracted at record pace as customers postponed or cancelled orders amid ongoing global lockdowns, with new business from abroad falling the most in 11 years. On the price front, input costs fell partially due to lower wage costs, while output charges posted the largest decrease since data collection began on efforts to attract clients. Looking ahead, business sentiment dropped to a fresh record low.
2020-05-05
US Service Sector Contracts at Record Pace
The IHS Markit US Services PMI fell to 27.0 in April 2020 from the previous month's 39.8, below market expectations of 31.5, a preliminary estimate showed. The latest reading pointed to the steepest fall in service sector activity since the series began in October 2009 as lockdown measures to contain the spread of Covid-19 hit consumer-facing industries particularly hard. New business dropped the most on record and employment declined at a steeper pace. On the price front, output charges posted the largest decrease since data collection began on efforts to attract clients. Looking ahead, business sentiment dropped to a fresh record low.
2020-04-23
US Services PMI Revised Higher, Still Lowest on Record
The IHS Markit US Services PMI was revised higher to 39.8 in March 2020 from a preliminary estimate of 39.1, still signaling the steepest decline in output since data collection began in October 2009. New business contracted at a record pace, with exports also falling sharply, as the coronavirus pandemic led to business closures and sharply reduced client demand. In addition, the pace of job shedding was the joint-fastest since December 2009 as lower activity resulted in redundancies and enforced hiring freezes, while the depletion of backlogs of work was the quickest in the series history. On the price front, input cost prices decreased for the first time since last September, while output charges fell the most on record as service providers sought to retain clients and attract new customers. Looking ahead, business confidence dropped to an all-time low due to uncertainty surrounding both the longevity of the outbreak of COVID-19 and the following economic recovery.
2020-04-03

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.