The IHS Markit US Services PMI rose to a two-month high of 57.5 in January 2021 from 54.8 in the previous month, beating market expectations of 53.6, a preliminary estimate showed. The rate of expansion was the second-sharpest since March 2015 and steep overall. That said, the pace of new business growth softened at the start of 2021 as restrictions placed on firms due to the ongoing coronavirus disease pandemic dampened demand. The upturn was solid, however, with new business from abroad returning to growth. In line with a fractional reduction in backlogs of work, the pace of job creation eased across the service sector. Business optimism improved, however, as firms hoped for a speedy vaccine roll-out and a reduction in restrictions on movement. source: Markit Economics

Services PMI in the United States averaged 53.74 points from 2013 until 2021, 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 January of 2021.

Services PMI in the United States is expected to be 56.10 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 50.50 in 12 months time. In the long-term, the United States Services PMI is projected to trend around 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
57.50 54.80 61.00 26.70 2013 - 2021 points Monthly


News Stream
US Service Sector Growth Accelerates to 2-Month High
The IHS Markit US Services PMI rose to a two-month high of 57.5 in January 2021 from 54.8 in the previous month, beating market expectations of 53.6, a preliminary estimate showed. The rate of expansion was the second-sharpest since March 2015 and steep overall. That said, the pace of new business growth softened at the start of 2021 as restrictions placed on firms due to the ongoing coronavirus disease pandemic dampened demand. The upturn was solid, however, with new business from abroad returning to growth. In line with a fractional reduction in backlogs of work, the pace of job creation eased across the service sector. Business optimism improved, however, as firms hoped for a speedy vaccine roll-out and a reduction in restrictions on movement.
2021-01-22
US Service Sector Grows Less than Initially Thought
The IHS Markit US Services PMI was revised lower to 54.8 in December 2020, from a preliminary estimate of 55.3 and below November's five-and-a-half-year high of 58.4. The latest reading pointed to a sharp slowdown in services activity growth amid rising COVID-19 cases. Total new business increased the least in four months due to easing domestic demand and the first contraction in exports since May. At the same time, the pace of job creation softened, while backlogs of work rose marginally. On the price front, input cost inflation picked up again to reach a series record high, boosted by greater PPE and packaging prices, amid supplier shortages and rising demand. Output charge inflation, however, slowed on efforts to boost sales and attract new clients amid challenging demand conditions. Looking ahead, business confidence slipped to a three-month low in December.
2021-01-06
US Service Sector Growth Slows in December
The IHS Markit US Services PMI fell to 55.3 in December 2020, from the previous month's five-and-a-half-year high of 58.4 and below market expectations of 55.9, a preliminary estimate showed. The latest reading pointed to a sharp slowdown in services activity growth amid rising COVID-19 cases, with firms stating that restrictions and softer demand weighed on total activity.
2020-12-16
US Services PMI at Near 6-Year High: Markit
The IHS Markit US Services PMI was revised higher to 58.4 in November 2020, up from a preliminary estimate of 57.7 and compared with October's final 56.9. The latest reading signaled the steepest expansion in service output since March 2015, boosted by the fastest increase in new orders since April 2018 and the strongest employment growth since data collection began in October 2009. On the price front, input costs rose at record pace, while firms also raised their output charges at the fastest rate for more than a decade in an effort to pass on steeper cost burdens to customers. Looking ahead, business optimism was the strongest since January 2014 due to hopes of a vaccine against COVID-19, and an end to election uncertainty.
2020-12-03

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.