FX.co ★ US Business Growth Confirmed at Over 5-Year High

The S&P Global US Composite PMI rose to 58.4 in September 2026 from 56.0 in August, in line with the flash estimate and marking the strongest expansion in private-sector activity in more than five years. Growth accelerated in both manufacturing and services, underscoring broad-based strength in the US economy. The increase in output was driven by a sharp rise in new orders, signaling that demand remained robust throughout the month. Heavier workloads also prompted firms to expand their staffing levels, with employment growing at the fastest pace since June 2022. At the same time, the stronger economic performance was accompanied by a renewed build-up in cost pressures. Input prices rose at their quickest rate since October 2022, heightening concerns about inflationary pressures across the private sector. In response, companies raised their selling prices more rapidly in September, indicating that higher input costs were increasingly being passed on to customers.