Sales Managers Indexes



The Sales Managers' Indexes provide the earliest monthly data on the speed and direction of economic activity in key growth areas of the world.

The SMI’s (Sales Managers’ Indexes) are compiled and analysed by World Economics and are based on survey data collected from a panel of companies stratifying all Industry Classification Board (ICB) sectors which are weighted to reflect their contribution to national Gross Domestic Product.

Key advantages of the SMI's:

  • The SMI's provide the first indication each month of the speed and direction of economic growth.
  • The SMI's provide the most complete indication of growth, covering all private sector activity.
  • The SMI's are based on a key occupational group - sales executives - uniquely able to sense accurate changes in business activity levels.
  • The SMI survey base - salespeople - are used by virtually all businesses, including in frontier markets, unlike other occupational groups.
  • The SMI's focus on the key countries contributing to over 60% of global growth in recent years.


Latest SMI releases


GLOBAL: Global Economy Maintains Steady Growth in October
The Global Sales Managers Index (SMI) for October reached 51.5, signalling modest global economic expansion. A surge in the Prices Charged Index to 53.5, a three-month high, underscores intensifying cost pressures as the primary driver, fuelled by trade disruptions and input cost increases. Steady sales and recovering staffing levels support growth, though cautious confidence and ongoing geo-political challenges persist. The Global SMI data reflects a resilient economy navigating US-China trade tensions and the US government shutdown.
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CHINA: China's Economy Shows Modest Acceleration in October, Led by Strong Sales Growth
The October Sales Managers Index (SMI) data for China indicates steady expansion in business activity, with the Headline All-Sector SMI rising to 51.2, reflecting modest growth in both Manufacturing and Services sectors. This improvement is primarily driven by robust sales performance, as shown in the chart below. The data, covering all sectors as well as manufacturing and services splits, points to a resilient economy despite heightened US-China trade tensions, including new tariffs and export controls implemented in early October..
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UNITED STATES: US Sales Managers Price Index Soars to 2-Year High in October
The Prices Index surged to 56.8 in October, a two-year high, signalling strong inflationary pressures in the US economy. The Headline Sales Managers Index (SMI) reached 51.0, reflecting modest expansion in business activity, supported by stable confidence, sales, and staffing levels. The significant jump in prices, likely driven by supply chain disruptions and global trade policies, overshadows these gains, posing risks to demand and economic stability. The SMI All Sector Data highlights a resilient but cautious economy navigating a challenging cost environment.
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INDIA: The Indian Economy Powers Ahead in October
Indian Sales Managers reported another month of significant economic growth in October. All growth-related indexes except employment are reflecting significant expansion across a wide variety of business sectors.
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Notes & Methodology

The SMI’s (Sales Managers’ Indexes) are compiled and analysed by World Economics and are based on survey data collected from a global panel of over 4500 companies stratifying all Industry Classification Board (ICB) sectors which are weighted to reflect their contribution to national Gross Domestic Product for each country/region.

The Sales Managers’ Index results are diffusion indexes which are calculated by taking the percentage of respondents that report that activity has risen (“Increasing") and adding it to one-half of the percentage that report the activity has not changed (“Unchanged"). Using half of the “Unchanged" percentage effectively measures the bias toward a positive (above 50 points) or negative (below 50 points) index. An example of how to calculate a diffusion index: if the response is 40% “Increasing," 40% “Unchanged," and 20% “Reducing," the Diffusion Index would be 60 points (40% + [0.50 x 40%]). A value of 50 indicates "no change" from the previous month.

The more distant the index is from the amount that would indicate "no change" (50 points), the greater the rate of change indicated. Therefore, an index value of 58 indicates a faster rate of increase than an index value of 53, and an index value of 40 indicates a faster rate of decrease than an index value of 45. A value of 100 indicates all respondents are reporting increased activity while 0 indicates that all respondents report decreased activity.

Three month Moving Averages are applied to each index to mitigate the effect of seasonal variations and published as the index figures



About the Sales Managers’ Indexes

The Sales Managers’ Indexes are a series of products developed by World Economics which counts panellists in key countries worldwide. Designed to raise the voice and profile of sales people throughout the world, the Sales Managers’ Indexes provide the earliest indication each and every month of the direction of economic activity, and the speed at which its markets are growing.

Sales Managers are unique as an occupational group in being right at the front line of economic activity. The Sales Manager is ideally placed to feel the first few whispers of caution in the market or to see the new green shoots of economic recovery.

The Sales Managers’ Index brings together the collective wisdom of Sales Managers and consequently produces the best and earliest source of understanding about what’s really happening in each economy. The Sales Managers’ Index has been developed by World Economics, a leading edge provider of original economic data.



About the World Economics

World Economics is an organisation dedicated to producing analysis, insight and data relating to questions of importance in understanding the world economy. Its parent company Information Sciences Ltd has a long history of the development of key business information today used throughout the world, including the origination and development of the Purchasing Managers Indexes in China, Japan, India, Europe, America and the UK (now owned by &P Global), and the development of WARC a global information provider for major corporations (now owned by Ascential).