Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia S&P Global Services PMI climbed to 59.3 in May 2026
FMPMonthlyReleased June 2026
India S&P Global Services PMI climbed to 59.3 in May 2026, released June 2026, up 1.1 from April's 58.2 reading. The reading matched the 58.1 consensus.
Latest Release
59.300000
Actual
58.100000
Consensus
58.200000
Previous
Median Absolute Error
±1.19
across last 12 releases
Last Call
Jun 2026
Predicted: 57
Actual: 59.3
Error: -2.3
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 | −0.90 | INDEX | Bearish Hang Seng | → View |
| NIFTY 50 | ▼ Inverse | −0.41 | INDEX | Bearish NIFTY 50 | → 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 59.30 in May 2026. This beat the market consensus of 58.10 by 1.20. The reading rose from the previous value of 58.20. Over the past 12 months, the indicator has averaged 59.91, ranging from 56.50 to 65.60 across 17 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 57.97, down from the prior three at 58.53. Volatility over the past year (σ 2.03) is higher than the prior year (σ 1.40). In June readings over the past 3 years, S&P Global Services PMI has averaged 59.60.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with Hang Seng (Bearish Hang Seng). A secondary relationship exists with NIFTY 50, negatively correlated (Bearish NIFTY 50). Over the last 12 releases, the Sigmacast model's median absolute error is 1.19.
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.
SHARE
S&P Global Services PMI - IN
Loading chart data...
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 (May 2026): actual 59.3, consensus 58.1. Prior reading (May 2026): 58.1. Before that (Apr 2026): 58.2.
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 bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with Hang Seng (Bearish Hang Seng, r=-0.90) — a useful reference for index-focused traders.