Indian Sales Managers reported another month of rapid economic expansion in January.
The month saw the rate of expansion rise, with all growth related Indexes at new highs, reflecting expansion across a wide variety of business sectors, at a level that will doubtless be envied in many other countries. The Sales Growth Index is now at a 62-month high!
The overall Sales Managers Index which shows the impact of the sub Indexes in concert, is now at a 7 month high, and with an index reading of almost 54, reflecting rapid economic expansion. The Indian Sales Managers Indexes are in fact currently reflecting what economists sometimes refer to as a "Goldilocks" scenario, with economic growth continuing at an optimum level, not too slowly to reduce the benefits of growth, and not too fast to require action to prevent an out of control boom developing. Plus a slowing rate of price inflation, now at a confidence inducing 14 month low.
The Business Confidence Index, reflecting the vital "animal spirits" factor in economic growth, asks respondents how confident they are that growth will continue into the future. Current answers indicate that significant expansion in economic activity is likely to continue throughout the first quarter of 2025, and in all probability beyond...
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:
SMI data for India is published as diffusion indexes to gauge the speed and direction of economic activity.
Monthly data since 2014 is downloadable for all-sectors in a consistent unadjusted format for 6 key indexes: