FX.co ★ U.S. S&P Global Composite PMI Climbs to 54.5 in July, Signaling Faster Private-Sector Growth

The U.S. economy showed stronger momentum in July as the S&P Global Composite PMI rose to 54.5, up from the previous level of 51.9. Both readings relate to July 2026, indicating that the latest update reflects a more robust assessment of private-sector activity than initially recorded.

A Composite PMI above 50 points to expansion in business activity, and the move from 51.9 to 54.5 suggests that growth in the U.S. private sector has accelerated. The indicator, which tracks output across both manufacturing and services, now signals a firmer pace of economic expansion.

The data, updated on 5 August 2026, reinforces the view that U.S. business conditions strengthened over the course of July, with companies reporting improved overall activity compared with the earlier reading for the same period.