US S&P Global PMI services for April 2026 51.0 versus 51.3 expected

AI summary

<ul><li>Prior month 49.8</li><li>preliminary 51.3</li><li>S&P Global services 51.0 versus 51.3 preliminary.</li><li>S&P Global composite 51.7 versus 52.0 preliminary. Last month 50.3.</li></ul><p>Details from the report from S&P Global:</p><ul><li>Services PMI (Business Activity): 51.0 vs 49.8 prior – returned to expansion but growth only marginal and below average </li><li> Composite PMI: 51.7 vs 50.3 prior – modest improvement driven by both services and manufacturing </li><li> New orders: Declined – first contraction since April 2024 as war and inflation weighed on demand </li><li> Export orders: Fell solidly – fifth consecutive monthly decline </li><li> Business activity: Rose slightly – supported by expansion efforts and marketing, but capped by weak demand </li><li> Employment: Edged higher – modest hiring, including part-time workers, after prior slight contraction </li><li> Backlogs: Increased modestly – extended growth streak to 14 months, signaling lingering capacity pressures </li><li> Input costs: Remained elevated – driven by fuel, gas, supplier, and labor costs; highest inflation of 2026 so far </li><li> Selling prices: Rose sharply – fastest increase in nine months as firms passed through higher costs </li><li> Confidence: Improved from March but still below trend – supported by growth plans but weighed down by uncertainty from war and cost pressures</li></ul><p>Chris Williamson, Chief Business Economist at S&P Global Market Intelligence</p><blockquote> “Althou