The IHS Markit US Services PMI rose to 56 in October 2020 from 54.6 in the previous month and beating market expectations of 54.6, a flash estimate showed. The latest reading pointed to the third consecutive expansion in the services sector and the sharpest in since February last year. Despite the rate of new orders growth easing, sales remained strong overall. At the same time, new export business increased at a softer pace, while the rate of employment growth was faster than the series average, still dropped to a three-month low. On the price front, inflationary pressures eased. Lastly, sentiment improved to the strongest since April 2018 amid hopes of an end of coronavirus restrictions. source: Markit Economics
Services PMI in the United States averaged 53.62 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 October of 2020.
Services PMI in the United States is expected to be 51.80 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 52.00 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.