The IHS Markit US Services PMI fell to 55.3 in December 2020, from the previous month's five-and-a-half-year high of 58.4 and below market expectations of 55.9, a preliminary estimate showed. The latest reading pointed to a sharp slowdown in services activity growth amid rising COVID-19 cases, with firms stating that restrictions and softer demand weighed on total activity. source: Markit Economics

Services PMI in the United States averaged 53.70 points from 2013 until 2020, reaching an all time high of 61 points in June of 2014 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 December of 2020.

Services PMI in the United States is expected to be 55.60 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 50.50 points in 2021 and 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
55.30 58.40 61.00 26.70 2013 - 2020 points Monthly


News Stream
US Service Sector Growth Slows in December
The IHS Markit US Services PMI fell to 55.3 in December 2020, from the previous month's five-and-a-half-year high of 58.4 and below market expectations of 55.9, a preliminary estimate showed. The latest reading pointed to a sharp slowdown in services activity growth amid rising COVID-19 cases, with firms stating that restrictions and softer demand weighed on total activity.
2020-12-16
US Services PMI at Near 6-Year High: Markit
The IHS Markit US Services PMI was revised higher to 58.4 in November 2020, up from a preliminary estimate of 57.7 and compared with October's final 56.9. The latest reading signaled the steepest expansion in service output since March 2015, boosted by the fastest increase in new orders since April 2018 and the strongest employment growth since data collection began in October 2009. On the price front, input costs rose at record pace, while firms also raised their output charges at the fastest rate for more than a decade in an effort to pass on steeper cost burdens to customers. Looking ahead, business optimism was the strongest since January 2014 due to hopes of a vaccine against COVID-19, and an end to election uncertainty.
2020-12-03
US Services Sector Growth at Over 5-1/2-Year High
The IHS Markit US Services PMI rose to 57.7 in November 2020, from 56.9 in the previous month and easily beating market consensus of 55.0, a preliminary estimate showed. The latest reading signaled the steepest expansion in output since March 2015, boosted by the fastest increase in new orders since September 2018 and the strongest employment growth since data collection began in October 2009. On the price front, input costs rose at record pace due to higher supplier prices and wage growth. Firms were able to partially pass on higher costs to clients, however, through a survey-record rise in output charges. Looking ahead, business optimism was the strongest since May 2014 due to hopes of a vaccine against COVID-19, and an end to election uncertainty.
2020-11-23
US Service Sector Activity Expands the Most Since 2015
The IHS Markit US Services PMI was revised higher to 56.9 in October 2020 from a preliminary estimate of 56 and compared to September's final reading of 54.6. The latest reading pointed to the third consecutive expansion in the services sector and the sharpest in since April 2015. The quicker rate of growth was largely linked to more robust demand conditions, despite a slower upturn in new export business. Firms continued to work through backlogs accumulated during lockdown, but pressure on capacity eased and employment consequently rose at the softest pace for three months. Optimism about business levels in one year’s time improved to the strongest since April 2018 principally amid hopes of an end to the coronavirus disease 2019 crisis and additional stimulus during the pandemic.
2020-11-04

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.