The IHS Markit US Services PMI was revised higher to 60.4 in March 2021, from a preliminary estimate of 60.0 and above the previous month's reading of 59.8, signaling the fastest output growth since July 2014. New business expanded the most in six years, reflecting strengthening client demand amid easing of virus containment restrictions in some states. Also, the rate of job creation was the quickest for three months, while backlogs of work rose at the softest pace in the current nine-month sequence of expansion. On the price front, input cost inflation accelerated to the fastest since the series began in October 2009, boosted by higher prices for key inputs such as PPE, paper, plastics, fuel and transportation; while the rate of charge inflation was also the quickest on record. Finally, business confidence was robust overall and among the strongest for six years. source: Markit Economics
Services PMI in the United States averaged 53.89 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 April of 2021.
Services PMI in the United States is expected to be 55.00 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 50.80 points in 2022, according to our econometric models.