The S&P Global US Services PMI dropped to 50.9 in April 2024, the lowest level in five months and well below market expectations of 52. The decrease in new business was attributed to high interest rates and prices, which limited demand for services. Employment also saw a significant decline, the largest since mid-2020. Excluding the initial wave of the COVID-19 pandemic, staffing levels in services hit a low not seen since the end of 2009. Service providers mentioned increased staff and shipping costs, although overall cost increases were at their second-lowest in three-and-a-half years. There was also a slowdown in charge inflation. source: S&P Global
Services PMI in the United States decreased to 50.90 points in April from 51.70 points in March of 2024. Services PMI in the United States averaged 53.75 points from 2013 until 2024, 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 May of 2024.
Services PMI in the United States decreased to 50.90 points in April from 51.70 points in March of 2024. Services PMI in the United States is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.