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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia S&P Global Services PMI held to 54.3 Points in August 2026
FMPMonthlyReleased September 2026
India S&P Global Services PMI held to 54.3 Points in August 2026, released September 2026. The reading matched the 54.6 Points consensus.
Latest Release
54.300000
Actual
54.600000
Consensus
54.300000
Previous
Median Absolute Error
±0.64
across last 12 releases
Last Call
Sep 2026
Predicted: 54.65
Actual: 54.3
Error: +0.35
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| Hang Seng | ▼ Inverse | −0.48 | INDEX | Moves against | → View |
| USD/INR | ▲ Direct | +0.32 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Services PMI (India) was reported at 54.30 Points in August 2026. This missed the market consensus of 54.60 Points by 0.30 Points. The reading was unchanged from the previous release. Over the past 12 months, the indicator has averaged 58.10 Points, ranging from 54.30 Points to 61.60 Points across 16 releases.
WHY IT MATTERS
The trailing three releases averaged 54.40 Points, down from the prior three at 58.27 Points. Volatility over the past year (σ 2.13 Points) is comparable than the prior year (σ 2.20 Points). In September readings over the past 3 years, S&P Global Services PMI has averaged 59.60 Points.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with Hang Seng (Bearish Hang Seng). A secondary relationship exists with USD/INR, positively correlated (Bullish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.64 Points.
WHAT TO WATCH NEXT
The next release is scheduled for September 23, 2026. Same-country events in the next 14 days include Balance of Trade (Sep 15) and HSBC Manufacturing PMI (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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S&P Global Services PMI - IN
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About S&P Global Services PMI — India
DEFINITION
The S&P Global Services PMI is a widely recognized financial indicator that measures the performance of the global services sector. It provides valuable insights into the health and growth of the services industry, which accounts for a significant portion of the global economy. This indicator is based on a monthly survey of purchasing managers in key service sectors, providing timely and reliable data on business activity, new orders, employment, and prices. The S&P Global Services PMI is a crucial tool for investors, businesses, and policymakers in making informed decisions and assessing the overall economic outlook.
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 (Aug 2026): actual 54.3 Points, consensus 54.6 Points. Prior reading (Aug 2026): 54.6 Points. Before that (Jul 2026): 54.3 Points.
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 Hang Seng (Bearish Hang Seng, r=-0.48) — a useful reference for index-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - IN Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:30 | IN | WPI Manufacturing YoY | 8.37 | 8.29 | 8.5 | 9.11 | Low |
| 06:30 | IN | WPI Inflation YoY | 9.92 | 9.78 | 9.89 | 10.04 | Low |
| 06:30 | IN | WPI Food Index YoY | 7.05 | 6.65 | 6.7 | 7.38 | Low |
| 06:30 | IN | WPI Fuel YoY | 22.93 | 20.05 | 15 | 18.31 | Low |
| 10:30 | IN | Inflation Rate YoY | 4.82 | 4.44 | 4.8 | 4.81 | Medium |
| 10:30 | IN | Inflation Rate MoM | 0.73 | 0.88 | 0.6 | 0.67 | Low |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | IN | Balance of Trade | -31.98 | -33 | -33.61 | Medium | |
| 10:30 | IN | Unemployment Rate | 5.1 | 5.2 | 5.30 | Low | |