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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Manufacturing PMI climbed to 56.9 in February 2026
FMPMonthlyReleased March 2026
India Manufacturing PMI climbed to 56.9 in February 2026, released March 2026, up 1.5 from January's 55.4 reading. The reading matched the 57.5 consensus.
Latest Release
56.9
Actual
57.5
Consensus
55.4
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
Manufacturing PMI (India) was reported at 56.90 in March 2026. This missed the market consensus of 57.50 by 0.60. The reading rose from the previous value of 55.40. Trailing 12-month context per ETL data through March 2026.
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 March 2026.
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Manufacturing PMI - IN
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About Manufacturing PMI — India
DEFINITION
Manufacturing PMI (Purchasing Managers' Index) is a key economic indicator that measures the health of the manufacturing sector in a country. It is based on a monthly survey of purchasing managers from various industries, providing valuable insights into production levels, new orders, employment, and supplier deliveries. A PMI reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 suggests contraction. This widely followed indicator is used by investors, businesses, and policymakers to assess the overall economic performance and make informed decisions.
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. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Feb 2026): actual 56.9, consensus 57.5. Prior reading (Feb 2026): 57.5.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print. Current dynamics are the primary tailwind in the projection. This indicator correlates most strongly with USD/INR (Bullish INR, r=-0.50) — a useful reference for forex-focused traders.