The S&P Global US Services PMI rose to 56.5 in August of 2026 from 54.6 in July, revised lower from the flash estimate of 56.8 but remaining well above the initial market expectations of 54. It marked the sharpest expansion in private activity since December of 2020, reflecting resilience from the sector since the war in Iran triggered a surge in energy prices that lifted borrowing costs for companies. New business rose the most in over 20 months, with panelists citing new customer wins and higher export orders. With that, capacity pressures remained present and backlogs were built the fastest in three years. Consequently, firms increased employment at the highest rate in 18 months. Meanwhile, input cost inflation held above the historical trend, driving selling charges to rise and keep margins. Finally, business expectations remained positive despite remaining below trend. source: S&P Global

Services PMI in the United States increased to 56.50 points in August from 54.60 points in July of 2026. Services PMI in the United States averaged 53.74 points from 2013 until 2026, 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.

Services PMI in the United States increased to 56.50 points in August from 54.60 points in July of 2026. Services PMI in the United States is expected to be 56.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Services PMI is projected to trend around 52.00 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Dallas Fed Services Index 4.20 6.60 points Aug 2026
NY Fed Services Activity Index 0.50 8.70 points Aug 2026
Richmond Fed Services Index -8.00 -3.00 points Aug 2026


United States Services PMI
The S&P Global US Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The index tracks variables such as sales, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The headline figure is the Services Business Activity Index, which is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
US Services Activity Holds Growth: S&P Global
The S&P Global US Services PMI rose to 56.5 in August of 2026 from 54.6 in July, revised lower from the flash estimate of 56.8 but remaining well above the initial market expectations of 54. It marked the sharpest expansion in private activity since December of 2020, reflecting resilience from the sector since the war in Iran triggered a surge in energy prices that lifted borrowing costs for companies. New business rose the most in over 20 months, with panelists citing new customer wins and higher export orders. With that, capacity pressures remained present and backlogs were built the fastest in three years. Consequently, firms increased employment at the highest rate in 18 months. Meanwhile, input cost inflation held above the historical trend, driving selling charges to rise and keep margins. Finally, business expectations remained positive despite remaining below trend.
2026-09-03
US Services Activity Rises Most in 20 Months
The S&P Global US Services PMI rose to 56.8 in August of 2026 from 54.6 in the previous month, well above market expectations of a drop to 54, to reflect the sharpest expansion in services activity since December 2024. New business wins expanded sharply in the sector, fast enough to expand backlogs for firms as clients made up for the decline in orders after the outbreak of war in the Middle East dampened demand in the second quarter of the year. Consistently, staffing levels were firmly higher. Meanwhile, input costs continued to rise at a marked pace, although inflation eased a bit from the 14-month high in July. Despite this, average output charge inflation softened to a six-month low. Looking ahead, confidence improved for a third month.
2026-08-21
US Services Activity Revised Higher
The S&P Global US Services PMI rose to 54.6 in July from 51.2 in the previous month, revised higher from the flash estimate of 53.6 to mark the sharpest expansion in activity in nine months. New business levels rose the most since November, with panelists noting a pickup in activity due to FIFA World Cup and Independence Day spending, and higher investments in sales, marketing, and product development. New work was awarded from domestic clients, as export orders fell the most since 2022 amid tariffs and the Middle East war. Consequently, firms increased their staff counts the most in eight months. Meanwhile, input cost inflation rose to a 14-month high due to tariffs and higher raw-material costs, driving companies to pass on price hikes to consumer charges when possible. Looking ahead, confidence improved on hopes of easing energy prices and business expansion plans.
2026-08-05