Preliminary S&P Global PMIs for August are expected to show slight declines in manufacturing and services activity while staying above 50.
S&P Global will release preliminary August Purchasing Managers’ Index data for the US, offering an early look at private sector momentum. The Composite PMI, combining manufacturing and services, is forecast to ease slightly after July’s sharp rise to 54.5, its highest since October 2025.
July’s report showed robust growth, with the Composite PMI jumping from June’s 51.9, exceeding expectations. However, manufacturing activity slowed due to supplier delays linked to Middle East tensions. Consensus estimates for August project the Manufacturing PMI at 53.8, down from 53.9, and the Services PMI at 54.0, down from 54.6.
Despite the expected dip, readings above 50 would signal continued expansion, outperforming most developed economies. The data will provide insight into whether July’s strength was sustained or moderated heading into the third quarter.