US flash composite PMI reaches 58.4 in September as business activity accelerates
S&P Global flash survey data showed US business activity expanded at a multi-year high in September, with the composite PMI rising to 58.4 as manufacturing and services figures beat forecasts.
The S&P Global flash US composite PMI climbed to 58.4 in September, up from 56.0 in August. Multiple reports indicated that the reading marked the fastest pace of US business growth in more than five years, while Hedgeye noted the 58.4 figure represented the strongest private-sector expansion since July 2021.[1][2][3][4][5][7]
Both underlying sectors exceeded expectations during the month. The flash manufacturing PMI rose to 57.0, outperforming market estimates of 53.6 to 53.7 and registering a five-year high according to Wall St Engine. The flash services PMI rose to 58.7, surpassing consensus forecasts cited between 55.8 and 56.0.[3][5][6][7]
The acceleration across both manufacturing and service providers was supported by strong demand that boosted new orders and hiring. However, input costs jumped to their highest level since 2022 because of higher energy and transportation expenses, though selling-price increases remained relatively contained.[3][4]
Key facts
- S&P Global's flash US composite PMI climbed to 58.4 in September from 56.0 in August.
- The flash manufacturing PMI came in at 57.0, beating forecasts of 53.6 to 53.7, and was reported as a five-year high.
- The flash services PMI rose to 58.7, topping expectations of 55.8 to 56.0.
- Reports described overall business growth as the fastest in more than five years, while Hedgeye noted it as the strongest expansion since July 2021.
- Growth was driven by strong demand, leading to increases in new orders and employment across both sectors.
- Input costs reached their highest level since 2022 due to rising energy and freight costs, while selling-price increases remained relatively contained.
Sources · 5 sources
- *B
*Walter Bloomberg@DeItaonePost on X ·
*US S&P GLOBAL SEPT. COMPOSITE PMI RISES TO FIVE-YEAR HIGH
Open source - HE
Hedgeye@HedgeyePost on X ·
JUST IN: U.S. Composite PMI rose to 58.4 in September, the strongest private-sector expansion since July 2021. https://t.co/tnt2jmHNSR
Open source - *B
*Walter Bloomberg@DeItaonePost on X ·
U.S. PMI SURGES, SIGNALING STRONG GROWTH AND RISING COST PRESSURES U.S. business activity accelerated sharply in September, with manufacturing PMI rising to 57.0, services to 58.7, and the composite index to 58.4, all well above expectations. The data points to the strongest growth in more than five years, supported by robust hiring and demand. However, input costs jumped to their highest level since 2022, driven by higher energy and transport costs, adding to inflation concerns even as selling-price increases remained relatively contained.
Open source - BL
Bloomberg@businessPost on X ·
US business activity rose at the fastest pace in more than five years as robust demand pushed up new orders and employment at manufacturers and service providers. https://t.co/aJmlCF1h9T
Open source - *B
*Walter Bloomberg@DeItaonePost on X ·
U.S. S&P GLOBAL SEPTEMBER FLASH MANUFACTURING PMI AT 57.0 (FORECAST 53.6) U.S. S&P GLOBAL SEPTEMBER FLASH SERVICES PMI AT 58.7 (FORECAST 56.0) U.S. S&P GLOBAL SEPTEMBER FLASH COMPOSITE PMI AT 58.4 (VS 56.0 IN AUGUST)
Open source - BE
Bespoke@bespokeinvestPost on X ·
Both key economic indicators beat estimates this morning, with the S&P Manufacturing PMI at 57.0 versus 53.7 expected and the S&P Services PMI at 58.7 versus 55.8 expected. https://t.co/n7H2F6juDq
Open source - WS
Wall St Engine@wallstenginePost on X ·
U.S. 🇺🇸 SEPTEMBER FLASH PMI DATA: MFG. PMI: 57.0 (EST. 53.6); 5YR HIGH SERVICES PMI: 58.7 (EST. 56.0) COMPOSITE PMI: 58.4 (PRIOR 56.0)
Open source