The U.S. S&P Global Composite PMI slipped to 52.3 in February 2026 from 53.0 in January, indicating that private-sector activity continued to expand but at a slightly slower pace. The latest reading, updated on 20 February 2026, remains above the 50-point threshold that separates growth from contraction, pointing to ongoing, albeit moderating, momentum in the U.S. economy.
The composite index, which blends activity in both manufacturing and services, suggests that demand conditions remain broadly supportive but less vigorous than at the start of the year. While the deceleration from January’s 53.0 is modest, the February figure may reinforce expectations of a more measured growth trajectory as the first quarter of 2026 progresses.
