S&P Global Services PMI

The Services Purchasing Managers Index (PMI) released by Markit Economics captures business conditions in the services sector. As the services sector dominates a large part of total GDP, the services PMI is an important indicator of the overall economic condition in US. A result above 50 signals is bullish for the USD, whereas a result below 50 is seen as bearish.

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Most recent - Tuesday 23 May 2023 13:45

53.6

Forecast

52.6

Actual

55.1

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Next event - Monday 5 June 2023 13:45

55.1

Forecast

55.1

Actual

The typical/expected impact on USD pairs is medium.

The consensus forecast for S&P Global Services PMI is 55.1. A higher value than forecast tends to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Trading range

Forecast history

The most recent announced value for S&P Global Services PMI was 55.1 against a forecast of 52.6.

Past events

Date

Forecast

Actual

Tuesday 23 May 2023 13:45

52.6

55.1

Wednesday 3 May 2023 13:45

53.7

53.6

Friday 21 April 2023 13:45

51.5

53.7

Wednesday 5 April 2023 13:45

53.8

52.6

Friday 24 March 2023 13:45

50.5

53.8

Friday 3 March 2023 14:45

50.5

50.6

Tuesday 21 February 2023 14:45

47.2

50.5

Friday 3 February 2023 14:45

46.6

46.8

Tuesday 24 January 2023 14:45

44.5

46.6

Thursday 5 January 2023 14:45

44.4

44.7

Friday 16 December 2022 14:45

46.8

44.4

Monday 5 December 2022 14:45

46.1

46.2

Wednesday 23 November 2022 14:45

47.9

46.1

Thursday 3 November 2022 13:45

46.6

47.8

Monday 24 October 2022 13:45

49.2

46.6

Wednesday 5 October 2022 13:45

49.2

49.3

Friday 23 September 2022 13:45

49.2

Tuesday 6 September 2022 13:45

44.1

43.7

Tuesday 23 August 2022 13:45

49.2

44.1

Wednesday 3 August 2022 13:45

47.3

Friday 22 July 2022 13:45

52.6

Wednesday 6 July 2022 13:45

52.7

Thursday 23 June 2022 13:45

53.5

51.6

Friday 3 June 2022 13:45

53.4

Tuesday 24 May 2022 13:45

55.2

53.5

Wednesday 4 May 2022 13:45

54.7

55.6

Friday 22 April 2022 13:45

54.7

Tuesday 5 April 2022 13:45

58.9

Thursday 24 March 2022 13:45

58.9

Thursday 3 March 2022 14:45

56.5

Tuesday 22 February 2022 14:45

56.7

Thursday 3 February 2022 14:45

50.9

51.2

Monday 24 January 2022 14:45

50.9

Wednesday 5 January 2022 14:45

57.5

57.6

Thursday 16 December 2021 14:45

58.7

57.5

Friday 3 December 2021 14:45

Tuesday 23 November 2021 14:45

59.1

Wednesday 3 November 2021 13:45

58.2

58.7

Friday 22 October 2021 13:45

55.1

58.2

Tuesday 5 October 2021 13:45

54.4

54.9

Thursday 23 September 2021 13:45

54.4

Friday 3 September 2021 13:45

55.2

55.1

Monday 23 August 2021 13:45

59.5

55.2

Wednesday 4 August 2021 13:45

59.9

Friday 23 July 2021 13:45

64.8

59.8

Tuesday 6 July 2021 13:45

64.8

64.6

Wednesday 23 June 2021 13:45

64.8

Thursday 3 June 2021 13:45

70.1

70.4

Friday 21 May 2021 13:45

64.5

70.1

Wednesday 5 May 2021 13:45

63.1

64.7

Friday 23 April 2021 13:45

61.5

63.1

Monday 5 April 2021 13:45

60.4

Wednesday 24 March 2021 13:45

Wednesday 3 March 2021 14:45

58.9

59.8

Friday 19 February 2021 14:45

57.5

58.9

Wednesday 3 February 2021 14:45

57.5

58.3

Friday 22 January 2021 14:45

53.6

57.5

Wednesday 6 January 2021 14:45

55.3

54.8

Wednesday 16 December 2020 14:45

55.9

55.3

Thursday 3 December 2020 14:45

58.4

Monday 23 November 2020 14:45

55.3

57.7

Wednesday 4 November 2020 14:45

56.9

Friday 23 October 2020 13:45

54.6

Monday 5 October 2020 13:45

54.6

Wednesday 23 September 2020 13:45

54.7

54.6

Thursday 3 September 2020 13:45

54.8

Friday 21 August 2020 13:45

54.8

Wednesday 5 August 2020 13:45

49.6

Friday 24 July 2020 13:45

49.6

Monday 6 July 2020 13:45

46.7

47.9

Tuesday 23 June 2020 13:45

46.5

46.7

Wednesday 3 June 2020 13:45

36.9

37.5

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next S&P Global Services PMI result:

		Previous	Latest
Average Hourly Earnings (MoM)	Bearish change	0.4%	0.3%
Average Hourly Earnings (YoY)	Bearish change	4.4%	4.3%
Labor Force Participation Rate	(no change)	62.6%	62.6%
Nonfarm Payrolls	Bullish change	294K	339K
U6 Underemployment Rate	Bearish change	6.6%	6.7%
Unemployment Rate	Bearish change	3.4%	3.7%
ISM Manufacturing Employment Index	Bullish change	50.2	51.4
ISM Manufacturing New Orders Index	Bearish change	45.7	42.6
ISM Manufacturing PMI	Bearish change	47.1	46.9
ISM Manufacturing Prices Paid	Bearish change	53.2	44.2
S&P Global Manufacturing PMI	Bearish change	48.5	48.4
Initial Jobless Claims	Bearish change	230K	232K
Initial Jobless Claims 4-week average	Bullish change	232K	229.5K
Nonfarm Productivity	Bullish change	-2.7%	-2.1%
Unit Labor Costs	Bearish change	6.3%	4.2%
ADP Employment Change	Bearish change	291K	278K
Chicago Purchasing Managers' Index	Bearish change	48.6	40.4
Housing Price Index (MoM)	Bearish change	0.7%	0.6%
S&P/Case-Shiller Home Price Indices (YoY)	Bearish change	0.4%	-1.1%
Michigan Consumer Sentiment Index	Bullish change	57.7	59.2
UoM 5-year Consumer Inflation Expectation	Bearish change	3.2%	3.1%
Core Personal Consumption Expenditures - Price Index (MoM)	Bullish change	0.3%	0.4%
Core Personal Consumption Expenditures - Price Index (YoY)	Bullish change	4.6%	4.7%
Durable Goods Orders	Bearish change	3.3%	1.1%
Durable Goods Orders ex Defense	Bearish change	3.2%	-0.6%
Durable Goods Orders ex Transportation	Bearish change	0.3%	-0.2%
Nondefense Capital Goods Orders ex Aircraft	Bullish change	-0.6%	1.4%
Personal Income (MoM)	Bullish change	0.3%	0.4%
Personal Spending	Bullish change	0.1%	0.8%
Pending Home Sales (MoM)	Bullish change	-5.2%	0%
Chicago Fed National Activity Index	Bullish change	-0.37	0.07
Core Personal Consumption Expenditures (QoQ)	Bullish change	4.9%	5%
Gross Domestic Product Annualized	Bullish change	1.1%	1.3%
Gross Domestic Product Price Index	Bullish change	4%	4.2%
Initial Jobless Claims	Bearish change	225K	229K
Initial Jobless Claims 4-week average	(no change)	231.75K	231.75K
Personal Consumption Expenditures Prices (QoQ)	(no change)	4.2%	4.2%
New Home Sales (MoM)	Bullish change	0.656M	0.683M
S&P Global Composite PMI	Bullish change	53.4	54.5
S&P Global Manufacturing PMI	Bearish change	50.2	48.5

About S&P Global Services PMI

Country:	United States
Currency:	USD
Source:	IHS Markit
Category:	Economic Activity
Frequency:	Monthly

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	Australia		Gross Domestic Product (QoQ)
	Canada		Gross Domestic Product Annualized
	Switzerland		Gross Domestic Product s.a. (QoQ)
	China		Non-Manufacturing PMI
	China		Gross Domestic Product (YoY)
	China		Gross Domestic Product (QoQ)
	China		NBS Manufacturing PMI
	Germany		Gross Domestic Product (QoQ)
	Eurozone		Gross Domestic Product s.a. (YoY)
	Eurozone		Gross Domestic Product s.a. (QoQ)
	Japan		Gross Domestic Product (QoQ)
	Japan		Tankan Large Manufacturing Index
	New Zealand		Gross Domestic Product (YoY)
	New Zealand		Gross Domestic Product (QoQ)
	United Kingdom		Gross Domestic Product (QoQ)
	United States		ISM Manufacturing PMI
	United States		Gross Domestic Product Annualized
	United States		Nondefense Capital Goods Orders ex Aircraft
	United States		ISM Services PMI
	United States		Durable Goods Orders
	Australia		S&P Global Manufacturing PMI
	Australia		National Australia Bank's Business Confidence (QoQ)
	Australia		S&P Global Services PMI
	Australia		AiG Performance of Mfg Index
	Australia		AiG Industry Index
	Australia		Gross Domestic Product (YoY)
	Canada		Bank of Canada Business Outlook Survey
	Canada		Gross Domestic Product (MoM)
	Canada		Ivey Purchasing Managers Index
	Canada		Ivey Purchasing Managers Index s.a
	Canada		Gross Domestic Product (QoQ)
	Canada		S&P Global Manufacturing PMI
	Switzerland		KOF Leading Indicator
	Switzerland		Industrial Production (YoY)
	Switzerland		Gross Domestic Product (YoY)
	Switzerland		ZEW Survey – Expectations
	China		Industrial Production (YoY)
	China		Caixin Services PMI
	China		Caixin Manufacturing PMI
	Germany		ZEW Survey – Economic Sentiment
	Germany		IFO – Current Assessment
	Germany		S&P Global/BME Manufacturing PMI
	Germany		IFO – Expectations
	Germany		S&P Global/BME Composite PMI
	Germany		ZEW Survey – Current Situation
	Germany		IFO – Business Climate
	Germany		Gross Domestic Product w.d.a (YoY)
	Germany		Gross Domestic Product (YoY)
	Germany		Factory Orders s.a. (MoM)
	Eurozone		ZEW Survey – Economic Sentiment
	Eurozone		S&P Global Composite PMI
	Eurozone		Industrial Production s.a. (MoM)
	Eurozone		Business Climate
	Spain		S&P Global Services PMI
	Spain		S&P Global Manufacturing PMI
	France		Gross Domestic Product (QoQ)
	Italy		Gross Domestic Product (YoY)
	Italy		S&P Global Manufacturing PMI
	Italy		Gross Domestic Product (QoQ)
	Italy		S&P Global Services PMI
	Japan		Tankan Large All Industry Capex
	Japan		Tankan Large Manufacturing Outlook
	Japan		Industrial Production (YoY)
	Japan		Gross Domestic Product Annualized
	New Zealand		Business NZ PMI
	New Zealand		NZIER Business Confidence (QoQ)
	Poland		Purchasing Manager Index
	United Kingdom		Manufacturing Production (MoM)
	United Kingdom		S&P Global/CIPS Composite PMI
	United Kingdom		Manufacturing Production (YoY)
	United Kingdom		Gross Domestic Product (MoM)
	United Kingdom		Industrial Production (MoM)
	United Kingdom		Gross Domestic Product (YoY)
	United Kingdom		NIESR GDP Estimate (3M)
	United Kingdom		S&P Global/CIPS Manufacturing PMI
	United States		Durable Goods Orders ex Defense
	United States		S&P Global Manufacturing PMI
	United States		Chicago Fed National Activity Index
	United States		Factory Orders (MoM)
	United States		ISM Services New Orders Index
	United States		ISM Manufacturing New Orders Index
	United States		Philadelphia Fed Manufacturing Survey
	United States		S&P Global Composite PMI
	United States		Chicago Purchasing Managers' Index
	United States		Durable Goods Orders ex Transportation
	United States		Gross Domestic Product Price Index

Calendar - S&P Global Services PMI - United States

S&P Global Services PMI

Most recent - Tuesday 23 May 2023 13:45

Next event - Monday 5 June 2023 13:45

Trading range

Trading range after each S&P Global Services PMI event

Forecast history

Past events

Economic context

About S&P Global Services PMI

Related events