The S&P Global US Composite PMI remained relatively steady at 52.1 in March 2024, just a notch below the preliminary estimate of 52.2 and slightly lower than the prior month's eight-month low of 52.5. Still, this figure still indicated a robust monthly uptick in overall business activity, with factory activity rising at its swiftest pace in nearly two years and growth in the service sector moderating slightly. Although there was only a modest increase in total new orders, international demand remained stable. Moreover, employment continued its upward trajectory, and backlogs of work saw a reduction. Turning to pricing dynamics, both input costs and output prices saw accelerated inflation, reaching six- and ten-month highs respectively. Lastly, business confidence saw an uptick in March. source: S&P Global

Composite PMI in the United States decreased to 52.10 points in March from 52.50 points in February of 2024. Composite PMI in the United States averaged 53.76 points from 2013 until 2024, reaching an all time high of 68.70 points in May of 2021 and a record low of 27.00 points in April of 2020. This page provides the latest reported value for - United States Composite PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Composite PMI in the United States decreased to 52.10 points in March from 52.50 points in February of 2024. Composite PMI in the United States is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Composite PMI is projected to trend around 53.00 points in 2025, according to our econometric models.



Related Last Previous Unit Reference
S&P Global Composite PMI 52.10 52.50 points Mar 2024
S&P Global Manufacturing PMI 51.90 52.20 points Mar 2024
S&P Global Services PMI 51.70 52.30 points Mar 2024

United States Composite PMI
In the United States, the S&P Global Composite PMI Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across both manufacturing and service sectors. The index is based on data collected from a representative panel of over 800 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.
Actual Previous Highest Lowest Dates Unit Frequency
52.10 52.50 68.70 27.00 2013 - 2024 points Monthly
SA

News Stream
US Private Sector Activity Continues to Expand at End of Q1
The S&P Global US Composite PMI remained relatively steady at 52.1 in March 2024, just a notch below the preliminary estimate of 52.2 and slightly lower than the prior month's eight-month low of 52.5. Still, this figure still indicated a robust monthly uptick in overall business activity, with factory activity rising at its swiftest pace in nearly two years and growth in the service sector moderating slightly. Although there was only a modest increase in total new orders, international demand remained stable. Moreover, employment continued its upward trajectory, and backlogs of work saw a reduction. Turning to pricing dynamics, both input costs and output prices saw accelerated inflation, reaching six- and ten-month highs respectively. Lastly, business confidence saw an uptick in March.
2024-04-03
US Private Sector Activity Continues to Grow
The S&P Global US Composite PMI edged down to 52.2 in March 2024, compared with February's eight-month high of 52.5, a preliminary estimate showed. However, the latest reading still indicated a solid monthly improvement in business activity at US companies. Service sector activity growth eased to a three-month low amid reports that price pressures had restricted customers' ability to commit to new projects, while manufacturing production expanded the most since May 2022. Overall, new orders increased at a slower pace, while the rate of job creation ticked higher, marking the fastest in 2024 so far. On the price front, input cost inflation quickened to a six-month high, and output price inflation was the sharpest in just under a year. Finally, business confidence surged to a near two-year high, amidst signs of a pick-up in the broader US economy.
2024-03-21
US Composite PMI Revised Higher to 8-Month High
The S&P Global US Composite PMI was revised higher to 52.5 in February 2024, from the preliminary estimate of 51.4 and up from 52 in January. It was the highest reading since June 2023, as manufacturing production saw a boost while service sector activity also rose. New order growth slightly slowed, though the overall expansion rate was the second highest since mid-2023. The upturn was supported by a rise in new export orders for goods. February showed a general decrease in cost pressures, with input prices increasing at the slowest rate since October 2020. Despite this, firms aimed to pass on higher costs to customers, resulting in an uptick in selling price inflation from January. Total employment growth remained modest at the start of the first quarter, with manufacturers increasing hiring while service providers showed restrained job creation due to cost-cutting measures and labor shortages.
2024-03-05