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The Sales Managers Index: Latin America

Released: January 17, 2017


Latin American Economy Edging
Closer to Recovery in January 


  • Business confidence remained stable in January
  • Sales Growth Index registered the highest level in 2 years despite stagnant market growth
  • Prices inflation for goods and services continued to pick up pace

The January Sales Managers Index for Latin America continued to show signs that recovery could be imminent for the continental economy, with a Headline Sales Managers’ Index of 49.5 – up from 49.3 in December. Sales of goods and services, as expressed by the monthly Sales Growth Index, continued to increase and hit the highest level of the index in 2 years at 51.4. The Prices Charged Index ticked up to 53.6 during the period from 52.6 in December and is also at its highest level since May last year. However, the January level of the index is significantly lower than the 58.2 reported in January 2015. The Business Confidence Index, which expresses the sentiment among Sales Managers, remained stable at 51.3 in January, suggesting that although the overall economic situation may be improving, sales managers do not feel that a full blown recovery is inevitable. Overall, the latest survey data suggests that the improving economic situation in Brazil and Mexico is helping to raise the outlook for the Latin American region as a whole but the recovery will be slow and will likely experience unexpected headwinds, especially from countries such as Venezuela and Argentina.



Headline Sales Managers' Index



Business Confidence Index




Sales Managers' Indexes Trends

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




Prices Charged Index





About Latin American SMI Data



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

Key advantages of the Latin America SMI:
  • The SMI provides the first indication each month of the speed and direction of economic growth in Latin America.
  • 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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