US Final Services PMI
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Above 50.0 indicates industry expansion, below indicates contraction. The 'Previous' listed is the 'Actual' from the Flash release and therefore the 'History' data will appear unconnected. There are 2 versions of this report released about a week apart – Flash and Final. The Flash release is the earliest and thus tends to have the most impact. Source first released in Dec 2013;
- US Final Services PMI Graph
- History
Expected Impact / Date | Actual | Forecast | Previous |
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Jun 5, 2024 | 54.8 | 54.8 | 54.8 |
May 3, 2024 | 51.3 | 50.9 | 50.9 |
Apr 3, 2024 | 51.7 | 51.7 | 51.7 |
Mar 5, 2024 | 52.3 | 51.4 | 51.3 |
Feb 5, 2024 | 52.5 | 52.9 | 52.9 |
Jan 4, 2024 | 51.4 | 51.3 | 51.3 |
Dec 5, 2023 | 50.8 | 50.8 | 50.8 |
Nov 3, 2023 | 50.6 | 50.9 | 50.9 |
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- US Final Services PMI News
- From pmi.spglobal.com|Jun 5, 2024|1 comment
A return to growth of new orders spurred US service providers to increase their business activity at a much faster pace midway through the second quarter of 2024. Less positive was a second successive reduction in employment as firms remained reluctant to replace departing staff. Higher wages for existing workers, meanwhile, was the key driver of a further sharp increase in input costs, with the rate of inflation quickening from that seen in April. In turn, charges also rose at a faster pace. The seasonally adjusted S&P Global US ...
- From pmi.spglobal.com|May 3, 2024
Business activity in the US services sector continued to increase in April, but the rate of expansion slowed amid the first reduction in new orders since last October. Employment was also reduced as firms showed a reluctance to replace departed staff. On the price front, rates of both input cost and output price inflation softened at the start of the second quarter, although in each case the latest increase was faster than the pre-pandemic average. Rises in wages, plus higher oil and gas prices, were widely reported by companies. The ...
- From pmi.spglobal.com|Apr 3, 2024
The US service sector remained in growth territory at the end of the opening quarter of the year as success in securing new business led companies to expand their output. Rates of expansion eased in both cases, however. Firms nevertheless continued to increase their staffing levels amid improved optimism about business prospects in the year ahead. Both input costs and output prices increased sharply in March, often as a result of rising wages. In fact, the respective rates of inflation quickened to six- and eight-month highs to rise ...
- From pmi.spglobal.com|Mar 5, 2024
US service providers signalled a further solid performance during February, according to the latest PMIŽ data from S&P Global. Output rose for a thirteenth successive month, the rate of growth falling only slightly from January's sevenmonth high. New business inflows have now risen for four straight months. Total new order growth nonetheless slipped to the weakest in three months, as new business from abroad dipped back into contraction territory. Pressure on capacity dissipated as backlogs of work fell, aided by a further rise in ...
- From pmi.spglobal.com|Feb 5, 2024|1 comment
The US services economy signalled a stronger start to the year as business activity expanded at the fastest pace since June 2023, according to the latest PMIŽ data from S&P Global. Contributing to the upturn was a quicker rise in new orders. Improved demand conditions were reported in the domestic market, but new export orders also increased, rising at the steepest rate since August 2023. Subsequently, firms expressed increased optimism regarding the outlook for output over the next year, and continued to expand their staffing ...
- From marctomarket.com|Feb 4, 2024|2 comments
The US employment data blew away expectations, jumping by 353k, nearly twice the median forecasts. That, coupled with the 0.6% rise in average hourly earnings, which was also twice expectations, helped drive home the Federal Reserve's reluctance to endorse what had been market speculation of a March rate cut and an aggressive rate cutting sequence. The dollar had softened as US rates eased following the FOMC meeting and new strains among regional banks (and some foreign banks with exposure to the US property market), but the jobs ...
- From bnnbloomberg.ca|Jan 4, 2024
Traders pared expectations for interest-rate cuts at major central banks this year after fresh data suggesting greater resilience among global economies. Money markets priced in 139 basis points of easing from the Fed this year, versus 145 basis points Wednesday, after a private job report showed US companies ramped up hiring in December. The odds of a rate cut in March, the earliest time traders expect the easing cycle to start, slid to about 64%, compared with 70% a day earlier. US Treasuries fell across the curve, with 10-year ...
- From pmi.spglobal.com|Jan 4, 2024
The US service sector signalled a quicker expansion in activity at the end of 2023, albeit only marginal overall, according to the latest PMIŽ data from S&P Global. The faster upturn in output stemmed from stronger demand conditions as new orders rose at the sharpest rate since June. Firms were buoyed by the improvement in the sales environment, as business confidence and hiring activity was adjusted upwards in response. Service providers recorded a steeper rise in input costs, and one that was historically elevated, as higher wages ...
Released on Jun 5, 2024 |
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Released on May 3, 2024 |
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Released on Mar 5, 2024 |
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Released on Feb 5, 2024 |
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Released on Jan 4, 2024 |
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