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The Sales Managers Index: Global Manufacturing

Released: March 21, 2017


Global Manufacturing Sector SMI Hits Highest
Level for 16 Months in March


  • Business Confidence grows at faster rate
  • Factory output prices continue to increase
  • New orders remain lacklustre

The March SMI data for the Global Manufacturing sector reported another month of improvements in manufacturing activity as the Headline Sales Managers’ Index increased 0.4 index points against the February level. The Business Confidence Index hit 56.8 in March, the highest level since December 2015, underpinned by improving market growth and increasing employment levels. Output Prices during the month continued to rise from February suggesting the return of stronger global inflation as producers raise output prices for the fourth consecutive month. Panel members continue to suggest that cautious sales growth, higher output prices and stable business conditions are fuelling renewed optimism as Q1 draws to a close.



Headline Sales Managers' Index



Business Confidence Index




Sales Managers' Indexes Trends


  Direction Speed
SMI Growing Solidly
Business Confidence Growing Faster
Market Growth Growing Very slowly
Sales Output Growing Slowly
Prices Charged Growing Modestly
Staffing Levels Growing Slowly




Prices Charged Index





About Global Manufacturing SMI Data



The Sales Managers Index provide the earliest monthly data on the speed and direction of Global Manufacturing economic activity.

Key advantages of the Global Manufacturing SMI:
  • The SMI provides the first indication each month of the speed and direction of economic growth in the Global Manufacturing sector .
  • The SMI provides the most complete indication of growth, covering all private sector activity.
  • The SMI is based on a key occupational group - uniquely able to sense changes in business activity levels.
  • The SMI is composite index of business confidence, market growth, sales, prices charged and staffing levels.
  • The SMI is a diffusion index, any index value above 50 indicates growth and below 50 indicates contraction.

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