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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Markit Manufacturing PMI climbed to 54.9 in February 2022
FMPMonthlyReleased March 2022
India Markit Manufacturing PMI climbed to 54.9 in February 2022, released March 2022, up 0.1 from January's 54.8 reading. The reading matched the 54.3 consensus. Year-over-year, the indicator is down 2.6. Over the past 3 months, Markit Manufacturing PMI averaged 55.15, vs 55.36 in the prior 3-month window. The reading is in the 46th percentile of the trailing 24-month range.
Latest Release
54.9
Actual
54.3
Consensus
54.8
Previous
Median Absolute Error
±2.05
across last 12 releases
Last Call
Mar 2022
Predicted: 53.93
Actual: 54.9
Error: -0.98
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
Markit Manufacturing PMI (India) was reported at 54.90 in March 2022. This beat the market consensus of 54.30 by 0.60. The reading rose from the previous value of 54.80. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 55.07, down from the prior three at 55.73.
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). Over the last 12 releases, the Sigmacast model's median absolute error is 2.05.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Industrial Production YoY (May 28) and Manufacturing Production YoY (May 28).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit Manufacturing PMI - IN
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About Markit Manufacturing PMI — India
DEFINITION
Markit Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in a particular country. It provides valuable insights into the health and growth of the economy by tracking changes in key factors such as production, new orders, employment, and supplier deliveries. This data is collected through surveys of purchasing managers in the manufacturing industry, making it a reliable and timely indicator of economic activity. Investors, policymakers, and businesses use Markit Manufacturing PMI to make informed decisions and stay ahead of market trends.
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 (Feb 2022): actual 54.9, consensus 54.3. Prior reading (Jan 2022): 54.8. Before that (Dec 2021): 55.5.
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 bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/INR (Bullish INR, r=-0.50) — a useful reference for forex-focused traders.