Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Nikkei Manufacturing PMI fell to 52.1 in June 2019
FMPMonthlyReleased July 2019
India Nikkei Manufacturing PMI fell to 52.1 in June 2019, released July 2019, down 0.6 from May's 52.7 reading. The reading matched the 51.7 consensus. Year-over-year, the indicator is down 1. Over the past 3 months, Nikkei Manufacturing PMI averaged 52.25, vs 53.5 in the prior 3-month window. The reading is in the 42nd percentile of the trailing 24-month range.
Latest Release
52.1
Actual
51.7
Consensus
52.7
Previous
Median Absolute Error
±1.1
across last 12 releases
Last Call
Jul 2019
Predicted: 51.6
Actual: 52.1
Error: -0.5
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
Nikkei Manufacturing PMI (India) was reported at 52.10 in July 2019. This beat the market consensus of 51.70 by 0.40. The reading fell from the previous value of 52.70. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 52.20, down from the prior three at 53.60.
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 1.10.
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 July 2019.
SHARE
Nikkei Manufacturing PMI - IN
Loading chart data...
About Nikkei Manufacturing PMI — India
DEFINITION
The Nikkei Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in Japan. It provides valuable insights into the country's economic health by tracking changes in key factors such as production, new orders, and employment. This data is used by investors, businesses, and policymakers to make informed decisions and assess the overall strength of the Japanese economy. With its timely and accurate reporting, the Nikkei Manufacturing PMI is an essential tool for understanding the current and future state of Japan's manufacturing industry.
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 (Jun 2019): actual 52.1, consensus 51.7. Prior reading (May 2019): 52.7. Before that (Apr 2019): 51.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed 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.