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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
KZKZ S&P Global Services PMI fell to 49 in October 2024
FMPMonthlyReleased November 2024
KZ S&P Global Services PMI fell to 49 in October 2024, released November 2024, down 2.1 from September's 51.1 reading. The reading matched the 51 consensus.
Latest Release
49.000000
Actual
51.000000
Consensus
51.100000
Previous
Median Absolute Error
±2.02
across last 5 releases
Last Call
Nov 2024
Predicted: 51.03
Actual: 49
Error: +2.02
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 |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | 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 Services PMI (KZ) was reported at 49.00 in October 2024. This missed the market consensus of 51.00 by 2.00. The reading fell from the previous value of 51.10.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch).
Auto-generated from current model state · Refreshes on each release · Last update November 2024.
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S&P Global Services PMI - KZ
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About S&P Global Services PMI — KZ
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 (Oct 2024): actual 49, consensus 51. Prior reading (Sep 2024): 51.1. Before that (Aug 2024): 48.5.
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.
Σ
EXPECTED ZONE
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