The New York City skyline in the United States

United States PMI August 2022

United States: Composite PMI records worst reading since May 2020 in August

The S&P Global Flash Composite Purchasing Managers’ Index (PMI) came in at 45.0 in August, down from July’s 47.7. August’s result marked the worst performance since May 2020. As such, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in business conditions in the private sector compared to the previous month.

Meanwhile, the Manufacturing PMI came in at 51.3 in August, down from July’s 52.2. Lastly, the services PMI activity index fell to 44.1 in August (July: 47.3). In the private sector as a whole, output, new orders and new export orders declined, with firms blaming material shortages, delivery delays, higher interest rates and still-elevated price pressures. More positively, input cost inflation eased for the third straight month, while pressure on supply chains showed signs of easing and business sentiment improved.

Commenting on the result, the EIU said:

“We have been expecting to see a slowdown in consumer spending growth around August-September, once pent-up demand left over from the pandemic was worked through and high inflation and interest rates started to affect consumers. The August PMI contraction fits with that view.” 

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest