The S&P Global US Composite PMI registered 56.0 in August 2026, unchanged from the preliminary estimate and up from 54.5 in July. The results indicate that private-sector activity expanded for a third consecutive month and reached its strongest pace in 52 months. Growth in services picked up markedly, while manufacturing output continued to rise, though at a more moderate rate.
New business increased at the fastest pace in 20 months, and employment growth also strengthened, hitting a 19‑month high. At the same time, price pressures eased: input cost inflation slowed to its lowest level since April 2025, and the rate of increase in selling prices fell to a nine‑month low. Business confidence was little changed from July, remaining broadly stable.
