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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia HSBC/Markit Services PMI climbed to 48.3 in January 2014
FMPMonthlyReleased February 2014
India HSBC/Markit Services PMI climbed to 48.3 in January 2014, released February 2014, up 1.6 from December's 46.7 reading.
Latest Release
48.300000
Actual
—
Consensus
46.700000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/INR | ▼ Inverse | −0.50 | FOREX | Bullish INR | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
HSBC/Markit Services PMI (India) was reported at 48.30 in January 2014. The reading rose from the previous value of 46.70.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/INR (Bullish INR). A secondary relationship exists with XAU/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include MPC Meeting Minutes (Jun 19) and Monetary Policy Meeting Minutes (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update February 2014.
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HSBC/Markit Services PMI - IN
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About HSBC/Markit Services PMI — India
DEFINITION
The HSBC/Markit Services PMI is a widely recognized financial indicator that measures the performance of the services sector in a particular economy. It is based on a monthly survey of purchasing managers from various companies, providing valuable insights into business activity, employment, and overall economic growth. This indicator is closely monitored by investors, policymakers, and analysts as it reflects the health and direction of the services industry, which is a key driver of economic growth.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2014): actual 48.3. Prior reading (Jan 2014): 46.7. Before that (Dec 2013): 47.2.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/INR (Bullish INR, r=-0.50) — a useful reference for forex-focused traders.