United States Composite PMI

Last Release

Jul 31, 2024

Actual

54.3

Units In

Points

54.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
68.7 May 2021	27 Apr 2020	53.76 Points	2013-2024	Markit Economics

In the United States, Markit Composite PMI Output Index tracks business trends across both manufacturing and service sectors (60 percent from the manufacturing sector and 40 percent from the services sector). The index is based on data collected from a representative panel of over 1,000 companies and follows variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity while below 50 points to contraction.

Latest Updates

The S&P Global US Composite PMI rose to 55.3 in November 2024, up from 54.1 in October, preliminary data showed. This reading signaled robust expansion in the country’s private sector, marking the strongest growth since April 2022. However, growth remained uneven across the economy, with the service sector booming (PMI at 57 vs 55 in October), while manufacturing continued to contract (PMI at 48.8 vs 48.5). The rise in activity reflected growing demand, with new orders increasing sharply, marking the strongest uptick in business inflows since May 2022. Employment fell for a fourth consecutive month, while output price inflation eased to its lowest level since prices began rising in June 2020. Firms’ expectations for output in the coming year reached their highest level since May 2022, driven by expectations of lower interest rates, stronger economic growth, and more supportive business policies under the new administration in 2025.