India
-8.1
▼
vs 1w ago (-1.5)
India economic data has been missing expectations. Over the past 90 days,
releases have generally fallen short of analyst estimates, suggesting the economy may be weaker than consensus forecasts.
Current Score
-8.1
1 Week Ago
-1.5
Releases (90d)
82
Top Beats
5
Top Misses
5
Surprise Index — 3 Year Weekly Trend with Nifty 50 Overlay
G7 Comparison — Economic Surprise Index
▲ Top Positive Surprises
- Infrastructure Output YoY +1.31z
- Gross Domestic Product YoY +0.98z
- Current Account +0.51z
- Infrastructure Output YoY +2.48z
- GDP Growth Rate YoY +0.55z
▼ Top Negative Surprises
- HSBC Services PMI -3.57z
- S&P Global Composite PMI -2.17z
- HSBC Manufacturing PMI -1.73z
- Foreign Exchange Reserves -2.47z
- HSBC Services PMI -1.43z
All Releases — 90 Day Window (82 events)
| Date | Event | Actual | Estimate | Surprise Z | Impact | Contribution |
|---|---|---|---|---|---|---|
| 2026-07-24 | HSBC Services PMI | 53.1 | 59.0 | -3.567 | Medium | -158.89 |
| 2026-07-24 | S&P Global Composite PMI | 54.3 | 58.4 | -2.165 | Medium | -96.43 |
| 2026-07-24 | HSBC Manufacturing PMI | 53.9 | 56.0 | -1.734 | Medium | -77.26 |
| 2026-07-10 | Foreign Exchange Reserves | 674.19 | 715.0 | -2.474 | Low | -39.88 |
| 2026-06-23 | HSBC Services PMI | 57.3 | 59.7 | -1.434 | Medium | -31.21 |
| 2026-07-20 | Infrastructure Output YoY | 5.0 | 1.5 | +1.315 | Low | +26.70 |
| 2026-06-23 | HSBC Manufacturing PMI | 54.5 | 55.5 | -0.833 | Medium | -18.14 |
| 2026-06-23 | S&P Global Composite PMI | 57.4 | 58.8 | -0.734 | Medium | -15.98 |
| 2026-07-13 | Balance of Trade | -30.43 | -26.5 | -0.436 | Medium | -15.05 |
| 2026-06-05 | Gross Domestic Product YoY | 7.8 | 7.2 | +0.980 | Medium | +14.07 |
| 2026-06-30 | Current Account | 7.1 | -15.0 | +0.514 | Medium | +13.16 |
| 2026-07-14 | WPI Manufacturing YoY | 7.48 | 5.5 | -0.709 | Low | -12.52 |
| 2026-05-20 | Infrastructure Output YoY | 1.7 | -0.5 | +2.479 | Low | +12.30 |
| 2026-06-05 | GDP Growth Rate YoY | 7.8 | 7.2 | +0.546 | High | +11.75 |
| 2026-06-15 | WPI Manufacturing YoY | 7.48 | 4.9 | -1.036 | Low | -9.37 |
| 2026-07-13 | Exports | 40.4 | 42.0 | -0.536 | Low | -9.26 |
| 2026-07-13 | Exports | 40.41 | 42.0 | -0.533 | Low | -9.20 |
| 2026-05-12 | CPI YoY | 3.48 | 3.8 | +1.090 | Medium | +8.99 |
| 2026-06-03 | HSBC India Services PMI | 59.8 | 58.9 | +1.254 | Low | +8.59 |
| 2026-07-13 | CPI YoY | 4.38 | 4.3 | -0.241 | Medium | -8.32 |
| 2026-06-15 | Unemployment Rate | 5.5 | 5.3 | -0.914 | Low | -8.27 |
| 2026-07-15 | Unemployment Rate | 5.5 | 5.4 | -0.449 | Low | -8.12 |
| 2026-06-08 | Current Account | 7.1 | -15.0 | +0.514 | Medium | +7.91 |
| 2026-07-28 | Industrial Production YoY | 7.3 | 5.7 | +0.140 | Medium | +6.85 |
| 2026-05-14 | WPI Fuel YoY | 24.71 | 3.0 | -1.504 | Low | -6.50 |
| 2026-05-12 | Inflation Rate YoY | 3.48 | 3.8 | +0.780 | Medium | +6.43 |
| 2026-05-21 | HSBC Services PMI | 58.9 | 57.9 | +0.616 | Medium | +6.25 |
| 2026-05-21 | HSBC Manufacturing PMI | 54.3 | 55.0 | -0.589 | Medium | -5.98 |
| 2026-07-13 | Inflation Rate YoY | 4.38 | 4.3 | -0.172 | Medium | -5.95 |
| 2026-07-03 | HSBC Services PMI | 57.4 | 58.0 | -0.369 | Low | -5.06 |
| 2026-06-29 | External Debt | 762.8 | 779.0 | +0.396 | Low | +4.95 |
| 2026-06-29 | External Debt | 762.8 | 779.0 | +0.396 | Low | +4.95 |
| 2026-05-06 | HSBC India Services PMI | 58.8 | 57.9 | +1.275 | Low | +4.58 |
| 2026-06-22 | Infrastructure Output YoY | 0.5 | 1.9 | -0.415 | Low | -4.41 |
| 2026-06-03 | S&P Global Composite PMI | 59.3 | 58.1 | +0.637 | Low | +4.37 |
| 2026-06-03 | S&P Global Services PMI | 59.3 | 58.1 | +0.617 | Low | +4.23 |
| 2026-06-01 | S&P Global Manufacturing PMI | 55.0 | 54.3 | +0.617 | Low | +4.04 |
| 2026-05-14 | WPI Inflation YoY | 8.3 | 4.4 | -0.909 | Low | -3.93 |
| 2026-06-01 | HSBC Manufacturing PMI | 55.0 | 54.3 | +0.596 | Low | +3.90 |
| 2026-07-13 | Inflation Rate MoM | 1.03 | 0.7 | -0.225 | Low | -3.88 |
| 2026-06-12 | CPI YoY | 3.93 | 4.0 | +0.226 | Medium | +3.82 |
| 2026-07-28 | Manufacturing Production YoY | 7.8 | 5.0 | +0.073 | Medium | +3.58 |
| 2026-05-04 | S&P Global Manufacturing PMI | 54.7 | 55.9 | -1.028 | Low | -3.52 |
| 2026-06-15 | WPI Food Index YoY | 4.49 | 2.1 | -0.381 | Low | -3.45 |
| 2026-07-01 | S&P Global Manufacturing PMI | 54.2 | 54.5 | -0.264 | Low | -3.45 |
| 2026-05-04 | HSBC Manufacturing PMI | 54.7 | 55.9 | -0.993 | Low | -3.40 |
| 2026-07-01 | HSBC Manufacturing PMI | 54.2 | 54.5 | -0.255 | Low | -3.33 |
| 2026-06-03 | HSBC Services PMI | 59.8 | 59.0 | +0.484 | Low | +3.32 |
| 2026-05-21 | S&P Global Composite PMI | 58.1 | 57.5 | +0.322 | Medium | +3.27 |
| 2026-05-06 | HSBC Services PMI | 58.8 | 57.5 | +0.806 | Low | +2.89 |
| 2026-06-12 | Inflation Rate YoY | 3.93 | 4.0 | +0.162 | Medium | +2.74 |
| 2026-07-13 | Imports | 70.84 | 70.0 | +0.146 | Low | +2.53 |
| 2026-06-15 | Balance of Trade | -28.21 | -27.0 | -0.132 | Medium | -2.38 |
| 2026-07-03 | S&P Global Composite PMI | 57.1 | 57.4 | -0.161 | Low | -2.21 |
| 2026-07-03 | S&P Global Services PMI | 57.1 | 57.4 | -0.156 | Low | -2.14 |
| 2026-07-03 | HSBC India Services PMI | 57.4 | 57.3 | +0.143 | Low | +1.96 |
| 2026-06-01 | Industrial Production YoY | 4.9 | 3.9 | +0.128 | Medium | +1.68 |
| 2026-06-01 | Industrial Production YoY | 4.9 | 3.9 | +0.128 | Medium | +1.68 |
| 2026-06-01 | Industrial Production YoY | 4.9 | 3.9 | +0.128 | Medium | +1.68 |
| 2026-05-14 | WPI Manufacturing YoY | 4.62 | 3.9 | -0.363 | Low | -1.57 |
| 2026-06-05 | Fiscal Year GDP Growth | 7.7 | 7.6 | +0.199 | Low | +1.43 |
| 2026-07-14 | WPI Inflation YoY | 9.87 | 9.15 | -0.081 | Low | -1.43 |
| 2026-05-15 | Balance of Trade | -28.38 | -27.0 | -0.150 | Medium | -1.33 |
| 2026-06-01 | Manufacturing Production YoY | 6.2 | 3.7 | +0.088 | Medium | +1.16 |
| 2026-06-01 | Manufacturing Production YoY | 6.2 | 3.7 | +0.088 | Medium | +1.16 |
| 2026-05-12 | Inflation Rate MoM | 0.27 | 0.6 | +0.262 | Low | +1.08 |
| 2026-06-29 | Industrial Production YoY | 5.1 | 4.7 | +0.042 | Medium | +1.06 |
| 2026-06-15 | WPI Inflation YoY | 9.68 | 9.1 | -0.065 | Low | -0.59 |
| 2026-06-30 | Government Budget Value | -1624.0 | -5500.0 | +0.037 | Low | +0.48 |
| 2026-06-15 | WPI Fuel YoY | 30.33 | 25.0 | -0.044 | Low | -0.40 |
| 2026-06-01 | Government Budget Value | -3623.0 | -1700.0 | -0.060 | Low | -0.39 |
| 2026-06-12 | Inflation Rate MoM | 0.75 | 0.7 | -0.034 | Low | -0.29 |
| 2026-07-14 | WPI Fuel YoY | 27.41 | 25.9 | -0.012 | Low | -0.21 |
| 2026-05-06 | S&P Global Composite PMI | 58.2 | 58.3 | -0.053 | Low | -0.19 |
| 2026-06-29 | Manufacturing Production YoY | 5.5 | 5.2 | +0.008 | Medium | +0.19 |
| 2026-05-06 | S&P Global Services PMI | 58.2 | 58.3 | -0.051 | Low | -0.18 |
| 2026-07-14 | WPI Food Index YoY | 6.14 | 6.0 | -0.008 | Low | -0.14 |
| 2026-05-14 | WPI Food Index YoY | 2.31 | 2.2 | -0.017 | Low | -0.07 |
| 2026-06-01 | Government Budget Value | -15191.7 | -15800.0 | +0.002 | Low | +0.01 |
| 2026-06-05 | Interest Rate Decision | 5.25 | 5.25 | +0.000 | Medium | +0.00 |
| 2026-06-05 | RBI Interest Rate Decision | 5.25 | 5.25 | +0.000 | Medium | +0.00 |
| 2026-06-05 | Cash Reserve Ratio | 3.0 | 3.0 | +0.000 | Low | +0.00 |