The S&P Global US Services PMI increased to 46.6 in January 2023, up from 44.7 at the end of 2022 and above market expectations of 45.0, a preliminary estimate showed. The latest reading signaled a solid fall in service sector output, but one that was the softest since last October, amid customer hesitancy and high inflation. The decrease in new business was only marginal overall, while employment rose only fractionally and backlogs of work declined further. On the price front, input cost inflation accelerated and output price inflation was unchanged from December. Finally, business confidence reached a four-month high amid hopes that domestic and external demand conditions improve. source: Markit Economics
Services PMI in the United States averaged 53.99 points from 2013 until 2023, reaching an all time high of 70.40 points in May 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 January of 2023.
Services PMI in the United States is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.