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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia S&P Global Composite PMI fell to 60.6 in February 2024
FMPMonthlyReleased March 2024
India S&P Global Composite PMI fell to 60.6 in February 2024, released March 2024, down 0.6 from January's 61.2 reading. The reading matched the 61.5 consensus.
Latest Release
60.600000
Actual
61.500000
Consensus
61.200000
Previous
Median Absolute Error
±1.32
across last 5 releases
Last Call
Mar 2024
Predicted: 61.93
Actual: 60.6
Error: +1.32
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
S&P Global Composite PMI (India) was reported at 60.60 in February 2024. This missed the market consensus of 61.50 by 0.90. The reading fell from the previous value of 61.20.
WHY IT MATTERS
The trailing three releases averaged 60.10, up from the prior three at 58.93.
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
The next release is scheduled for June 23, 2026. 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 2024.
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S&P Global Composite PMI - IN
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About S&P Global Composite PMI — India
DEFINITION
The S&P Global Composite PMI is a widely recognized financial indicator that measures the overall economic health of a country by combining the manufacturing and services sectors. It provides valuable insights into the current state of the economy, as well as future trends, and is used by investors, policymakers, and businesses to make informed decisions. With its comprehensive and timely data, the S&P Global Composite PMI is a crucial tool for understanding the performance of the global economy.
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 (May 2026): actual 58.1, consensus 57.5. Prior reading (Apr 2026): 58.2. Before that (Apr 2026): 58.3.
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.