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The Sales Managers Index: China

Updated: June 20, 2017

China’s Manufacturing Sector Helps Lift the
Sales Managers’ Index to a 20 Month High in June
  • Sales Managers’ Index increases to 52.5, the highest level since May 2015.
  • Both Manufacturing and Non-Manufacturing sectors report improved sales.
  • Both Market and Sales Growth Indexes suggest growth is accelerating.

Sales Managers’ Index (SMI) data shows that the Chinese economy grew faster in June than for some time, picking up pace with a Headline SMI value of 52.5, up from 51.6 in May. The Market growth index registered a 2.8 point increase as both Manufacturing and Non-Manufacturing sectors registered improvements. Manufacturing companies signalled the fastest rate of growth since May 2016 with the New Orders Index hitting 55.3. The monthly Sales Growth Index for the non-manufacturing industries also registered an increase to 56.9 confirming strong overall private business activity for the economy. The Prices Charged Index for the Manufacturing sector remained stable for the third consecutive month in June with a value of 51.7. The Non-Manufacturing sector, that represents consumer goods and services, decreased to 51.2. Business optimism improved in June but still remains low overall, however managers in the service sector were significantly more upbeat than those in the manufacturing sector.

Sales Managers' Index (SMI)

The Headline Sales Managers’ Index (SMI) – a composite indicator designed to provide the most up-to-date assessment of business activity.

Business Confidence Index

The Business Confidence Index measures the level of optimism/pessimism amongst sales for future conditions.

Market Growth Index

The Market Growth Index monitors the underlying growth of the market segments into which the panel members sell.

Sales Growth Index

The Sales Growth Index defines the speed and direction of overall sales of goods and services made by business during the month.

Prices Charged Index

The Prices Charged Index measures the speed and direction of changes in the current price of goods and services taking into account any discounts offered.

Staffing Levels Index

The Staffing Levels Index monitors the level of growth or decline in employment against the same period a year earlier.

About China SMI Data

The Sales Managers Index provide the earliest monthly data on the speed and direction of  the China's economic activity.

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