FX.co ★ US Private Sector Growth Cools in September: S&P Global

The S&P Global US Composite PMI declined to 53.9 in September 2025, down from August's 54.6 and just slightly above the preliminary estimate of 53.6. This figure indicates the slowest rate of expansion in the private sector since June, as both manufacturing and services outputs grew at a reduced pace, coupled with weaker growth in new business. Employment growth was minimal; however, business confidence showed a significant improvement. While cost pressures stayed high, input price inflation decreased to a five-month low, with a corresponding easing seen in output charges.