US Services PMI Beats Estimates: S&P Global
The S&P Global US Services PMI inched lower to 55.4 in August of 2025 from the year-to-date high of 55.7 in the previous month, but remained firmly above the market consensus of 54.2 to extend the period of sharp expansions in the US private services activity.
New business for services providers expanded sharply but remained slightly under last month's growth rate, while sales growth registered the biggest improvement of the year. Additionally, backlogs of work rose at the fastest pace since May 2022, and the sharper demand for capacity drove firms to take in the largest magnitude of new workers since January.
On the price front, service providers noted that input costs rose at the second-highest pace in over two years, driving output charges to rise the most in three years.
Sumber: Trading Economics