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: Sales Managers Index Reflects Emerging Global Growth
World economic activity continues to grow when seen through the lens of the Sales Managers Indexes, in the world's largest economies (China, the USA and India). After the falling growth rates registered over the 9-months to November, December broke the trend again, with rapid growth in India, renewed growth in the USA and emerging growth in China combining to produce a significant rise in almost all the global indexes.
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CHINA: Manufacturing Sector Confidence Hits a 38-Month High
After many months in the doldrums, Business Confidence in the Chinese Manufacturing Sector has sprung into life . December Sales Managers Data data records Confidence at a 38 month high, a remarkable turnaround after years of low readings. In sharp contrast, the Services sector, which has remained in reasonable shape during the long period during which the Manufacturing sector appeared to be hibernating, appears to have recently become the laggard.
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UNITED STATES: The Spectacular Trump Jump Continues Through December
Donald Trump's US Election win had an extraordinary impact on key US Economic Indexes in November, which has largely continued into December. In November, the US Sales Managers Survey recorded a previously unheard of 5.1 Index points increase in Business Confidence. Its sister Index, the Sales Managers Sales Growth Index rose to a near 6 year high in November, jumping an equally unheard of 4.6 Index points to reside at a very high Index level of 56.4.
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INDIA: The Indian Economy Continues to Grow Rapidly
Indian Sales Managers reported another month of significant economic expansion in December. The month saw a very modest pause in the rate of expansion, but all growth related indexes continue to reflect expansion across a wide variety of business sectors, at a level that will doubtless be admired in many other countries.
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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).