FX.co ★ U.S. Services Activity Returns to Expansion in April as S&P Global PMI Climbs Above 50

The U.S. services sector moved back into expansion territory in April 2026, according to the latest S&P Global Services Purchasing Managers’ Index (PMI) data. The index rose to 51.3 in April from 49.8 in March, signaling a shift from marginal contraction to modest growth in the world’s largest services-based economy.

March’s reading of 49.8, released earlier this year, had indicated a slight pullback in activity, as any figure below 50 separates contraction from expansion. The April rebound to 51.3 suggests improving business conditions across key service industries, including finance, retail, and professional services.

The updated figures, published on 23 April 2026, will be closely watched by investors and policymakers as they assess the resilience of the U.S. economy and the outlook for growth in the second quarter of the year.