The IHS Markit US Services PMI was revised higher to 64.7 in April 2021, from a preliminary estimate of 63.1, signaling the sharpest pace of expansion in the sector since data collection began in late-2009. New business rose at the most marked pace on record, supported by a solid increase in new export orders, and the pace of job creation was the fastest since last November. On the price front, input costs advanced at an unprecedented rate, due to hikes in supplier prices and greater transportation fees; while the rate of charge inflation quickened for the fourth month running and was the steepest since data collection for the series began in October 2009. Business expectations remained optimistic in April, as hopes of an end to COVID-19 measures as 2021 progresses drove confidence in future activity. source: Markit Economics

Services PMI in the United States averaged 54.01 points from 2013 until 2021, reaching an all time high of 64.70 points in April of 2021 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 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.

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United States Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
64.70 60.40 64.70 26.70 2013 - 2021 points Monthly


News Stream
US Services Sector Expands at Record Pace: Markit
The IHS Markit US Services PMI was revised higher to 64.7 in April 2021, from a preliminary estimate of 63.1, signaling the sharpest pace of expansion in the sector since data collection began in late-2009. New business rose at the most marked pace on record, supported by a solid increase in new export orders, and the pace of job creation was the fastest since last November. On the price front, input costs advanced at an unprecedented rate, due to hikes in supplier prices and greater transportation fees; while the rate of charge inflation quickened for the fourth month running and was the steepest since data collection for the series began in October 2009. Business expectations remained optimistic in April, as hopes of an end to COVID-19 measures as 2021 progresses drove confidence in future activity.
2021-05-05
US Services Sector Expands at Record Pace
The IHS Markit US Services PMI jumped to an all-time high of 63.1 in April 2021, from 60.4 in the previous month and above market expectations of 61.9, a preliminary estimate showed. New business grew the most since data collection for the series began in October 2009, supported by a solid increase in new export orders. The level of outstanding business rose at the steepest rate since September 2020 and the pace of job creation was the fastest since last November. On the price front, average cost burdens inflation remained high on higher fuel, wage, shipping and PPE costs, while the rate of charge inflation quickened. Business expectations remained optimistic in April, as hopes of an end to COVID-19 measures as 2021 progresses drove confidence in future activity.
2021-04-23
US March Services PMI Revised Higher: Markit
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.
2021-04-05
US Services Sector Growth at Over 6-1/2-Year High
The IHS Markit US Services PMI rose to 60 in March of 2021 from 58.8 in February and in line with market expectations, a preliminary estimate showed. The latest reading pointed to the strongest expansion in the service sector since July 2014. New orders rose sharply amid stronger client demand and the loosening of COVID-19 restrictions in some states. Moreover, the increase in total new sales was supported by a renewed expansion in new export orders. The rate of input price inflation was the sharpest since data collection began in late-2009. Firms were able to partially pass higher costs through to clients, however, as selling prices rose at the fastest pace on record. Greater new business led firms to expand employment in March, and at the quickest pace since December 2020. Business confidence picked up as service providers were buoyed by stronger client demand and hopes of a return to normal business operations amid expectations that COVID-19 restrictions will loosen throughout 2021.
2021-03-24

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.