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The Sales Managers Index: Latin America

Released: April 18, 2017


Falling Sales, Increasing Unemployment and Rising
Inflation Keeps Latin America in Recession

  • Business confidence remains weak as recovery hopes continue to recede
  • Market Growth Index continues 20 month run in contraction territory
  • Brazil causes primary drag with low market growth and falling sales

The Headline Latin American Sales Managers’ Index (SMI) was 48.9 in April – up 0.5 points from 48.4 in March. The monthly Sales Growth Index, which tracks the sales of goods and services, improved slightly in April to 48.7. Despite the improvement, this level continues to indicate a further contraction in economic activity. The Business Confidence Index, which expresses the sentiment among Sales Managers, remained unchanged at 51.0 in April, the level indicates very low levels of optimism for the coming months. For the major regional economies, Brazil is reporting a strong contraction in Market Growth, ebbing sales and high unemployment levels, while Mexico is slipping back into contraction territory reversing the gains made over the past six months. Overall, the latest survey data suggests that Latin America has remained in recession, and managers are losing confidence that an upturn will occur in the coming few months.



Headline Sales Managers’ Index




Prices Charged Index



Market Growth Index




Staffing Levels 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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