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The Sales Managers Index: Global Services

Released: February 21, 2017

Global Service Sector Sales Continue
to Rise Rapidly in February

  • Sales SMI suggests impact of Indian demonetization on global service sector
  • Market Growth Index remains steady
  • Prices charged continue to grow for consumer goods and services

The Global Services industry continued to grow at a modest pace in February. The Headline Sales Managers’ Index was 53.9 - down by 0.5 on the January level. The Headline Sales Managers’ Index (SMI) is a composite indicator designed to provide the most up-to-date assessment of business activity. Business confidence remained strong in February signalling that sales managers expect business conditions to remain favourable in the coming few months. Sales of consumer goods and services receded in February from the 12 months high reported in January. Price rises for services remain low but with steady levels of growth evident. Overall the Global Services sector has continued as the main driver of global growth at the start of 2017 but the recent falls in India as a result of the cash ban has likely impacted the global sector slightly in the short term.



Headline Sales Managers' Index



Sales Growth Index




Sales Managers' Indexes Trends


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




Prices Charged Index





About Global Services SMI Data



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

Key advantages of the Global Services SMI:
  • The SMI provides the first indication each month of the speed and direction of economic growth in the Global Services 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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