The S&P Global US Services PMI rose to 51.3 in June 2026 from 50.7 in May, slightly above the market consensus of 51, according to a preliminary estimate. The latest reading signaled a modest expansion in business activity—the strongest pace since February—partly supported by the soccer World Cup.
Output and new orders increased only marginally, as firms pointed to the drag from high prices, elevated interest rates, and subdued confidence among both businesses and consumers. At the same time, employment declined for a second consecutive month. Supplier delivery times lengthened notably, frequently attributed to shipping disruptions linked to the war in the Middle East and to the impact of tariffs.
On the price front, input cost inflation in the services sector accelerated to a six-month high, while prices charged rose at the fastest rate in 11 months. Although expectations for activity in the year ahead improved, overall sentiment remained well below its long-run average, held back by uncertainty surrounding the economic outlook, the conflict in the Middle East, and tariff policies.
