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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia S&P Global Manufacturing PMI climbed to 55 in May 2026
FMPMonthlyReleased June 2026
India S&P Global Manufacturing PMI climbed to 55 in May 2026, released June 2026, up 0.3 from April's 54.7 reading. The reading matched the 54.3 consensus.
Latest Release
55.000000
Actual
54.300000
Consensus
54.700000
Previous
Median Absolute Error
±0.77
across last 12 releases
Last Call
Jun 2026
Predicted: 53.57
Actual: 55
Error: -1.43
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 |
|---|---|---|---|---|---|
| Hang Seng | ▼ Inverse | −0.51 | INDEX | Bearish Hang Seng | → View |
| USD/INR | ▼ Inverse | −0.30 | FOREX | Bearish USD | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Manufacturing PMI (India) was reported at 55.00 in May 2026. This beat the market consensus of 54.30 by 0.70. The reading rose from the previous value of 54.70. Over the past 12 months, the indicator has averaged 57.04, ranging from 53.80 to 59.80 across 18 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 54.40, down from the prior three at 54.73. Volatility over the past year (σ 2.02) is higher than the prior year (σ 0.63). In June readings over the past 3 years, S&P Global Manufacturing PMI has averaged 57.00.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with Hang Seng (Bearish Hang Seng). A secondary relationship exists with USD/INR, negatively correlated (Bearish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.77.
WHAT TO WATCH NEXT
The next release is scheduled for June 23, 2026. 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 June 2026.
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S&P Global Manufacturing PMI - IN
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About S&P Global Manufacturing PMI — India
DEFINITION
The S&P Global Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in major economies around the world. It provides valuable insights into the health and growth of the global manufacturing industry, serving as a key barometer for investors, businesses, and policymakers. The index is based on a monthly survey of purchasing managers, and its timely and accurate data is highly regarded for its ability to forecast economic trends and inform decision-making.
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 (May 2026): actual 55, consensus 54.3. Prior reading (May 2026): 54.3. Before that (Apr 2026): 54.7.
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 Hang Seng (Bearish Hang Seng, r=-0.51) — a useful reference for index-focused traders.