The S&P Global US Services PMI, or Purchasing Managers' Index, is a monthly survey of US services conditions, compiled by S&P Global. It covers around 400 service sector companies across consumer services excluding retail, transport, information, communication, finance, insurance, real estate and business services.
The panel is stratified by sector and workforce size based on GDP contributions, and data collection began in October 2009. The headline, the Services Business Activity Index, measures direction of change from the prior month, not size of output growth, and covers services only. It is one of the PMI surveys available in over 40 countries and key regions including the eurozone.
Responses are collected in the 2nd half of the reference month and measure change from the prior month. A flash estimate from around 85% of responses appears around the 3rd week of the reference month across manufacturing, services and Composite PMI. Final manufacturing PMI is published around the 1st business day of the next month, with final services and Composite PMI near the 3rd business day. Each release appears at 09:45 Eastern Time, or 13:45 UTC in summer and 14:45 in winter.
January dates shift for holiday closures, and the underlying answers are never revised, though seasonal factors can be. The flash-to-final gap averages 0.1 since October 2009, or 0.4 in absolute terms.
The publisher assigns no weights to services components, so each sub index below simply tracks its own diffusion signal, a gauge of breadth.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Sep 23, 2026 | 58.70 | 56.00 | +2.70 |
| Sep 3, 2026 | 56.50 | 56.80 | -0.30 |
| Aug 21, 2026 | 56.80 | 54.00 | +2.80 |
| Aug 5, 2026 | 54.60 | 53.60 | +1.00 |
| Jul 24, 2026 | 53.60 | 51.50 | +2.10 |
| Jul 6, 2026 | 51.20 | 51.40 | -0.20 |
| Jun 23, 2026 | 51.30 | 51.00 | +0.30 |
| Jun 3, 2026 | 50.70 | 50.90 | -0.20 |
| May 21, 2026 | 50.90 | 51.10 | -0.20 |
| May 5, 2026 | 51.00 | 51.30 | -0.30 |
| Apr 23, 2026 | 51.30 | 50.00 | +1.30 |
| Mar 24, 2026 | 51.10 | 51.50 | -0.40 |
| Mar 4, 2026 | 51.70 | 52.30 | -0.60 |
| Feb 20, 2026 | 52.30 | 53.00 | -0.70 |
| Feb 4, 2026 | 52.70 | 52.50 | +0.20 |
| Jan 6, 2026 | 52.50 | 52.90 | -0.40 |
| Dec 16, 2025 | 52.90 | 54.00 | -1.10 |
| Dec 3, 2025 | 54.10 | 55.00 | -0.90 |
| Nov 21, 2025 | 55.00 | 54.60 | +0.40 |
| Nov 5, 2025 | 54.80 | 55.20 | -0.40 |
| Oct 3, 2025 | 54.20 | 53.90 | +0.30 |
| Sep 23, 2025 | 53.90 | 54.00 | -0.10 |
| Sep 4, 2025 | 54.50 | 55.40 | -0.90 |
| Aug 5, 2025 | 55.70 | 55.20 | +0.50 |
| Jul 24, 2025 | 55.20 | 53.00 | +2.20 |
| Jul 3, 2025 | 52.90 | 53.10 | -0.20 |
| Jun 23, 2025 | 53.10 | 52.90 | +0.20 |
| Jun 4, 2025 | 53.70 | 52.30 | +1.40 |
| May 22, 2025 | 52.30 | 50.80 | +1.50 |
| May 5, 2025 | 50.80 | 51.40 | -0.60 |
| Apr 3, 2025 | 54.40 | 54.30 | +0.10 |
| Mar 24, 2025 | 54.30 | 50.80 | +3.50 |
| Mar 5, 2025 | 51.00 | 49.70 | +1.30 |
| Feb 21, 2025 | 49.70 | 53.00 | -3.30 |
| Feb 5, 2025 | 52.90 | 52.80 | +0.10 |
| Jan 24, 2025 | 52.80 | 56.50 | -3.70 |
| Jan 6, 2025 | 56.80 | 58.50 | -1.70 |
| Dec 16, 2024 | 58.50 | 55.70 | +2.80 |
| Dec 4, 2024 | 56.10 | 57.00 | -0.90 |
| Nov 22, 2024 | 57.00 | 55.20 | +1.80 |
| Nov 5, 2024 | 55.00 | 55.30 | -0.30 |
| Oct 24, 2024 | 55.30 | 55.00 | +0.30 |
| Oct 3, 2024 | 55.20 | 55.40 | -0.20 |
| Sep 23, 2024 | 55.40 | 55.30 | +0.10 |
| Sep 5, 2024 | 55.70 | 55.20 | +0.50 |
| Aug 22, 2024 | 55.20 | 54.00 | +1.20 |
| Aug 5, 2024 | 55.00 | 56.00 | -1.00 |
| Jul 24, 2024 | 56.00 | 55.00 | +1.00 |
| Jul 3, 2024 | 55.30 | 55.10 | +0.20 |
| Jun 21, 2024 | 55.10 | 53.70 | +1.40 |
In the October 2022 release, published 3 November 2022, the final index fell to 47.8 from 49.3. It beat the flash estimate of 46.6, so both readings signaled contraction at different depths. New business fell for the 3rd time in 5 months, and export orders fell for a 5th month, the 2nd fastest fall since May 2020.
Employment was near stagnation, ending 27 months of staffing growth, while business expectations sank to their lowest in over 2 years. Input cost inflation cooled to its slowest since January 2021, and charge inflation to its slowest since December 2020, even as activity shrank, showing divergence.
Key point: the Services PMI matches only the Manufacturing Output Index, never the manufacturing headline, and shows direction of change, not size of growth.
