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World Economics - Measuring Global Economic Activity and GDP

The Sales Managers Index: India

Released: August 20, 2015

Indian SMI signals rapid economic growth in August

  • Business sentiment remains exceptionally high
  • Price Inflation falls for the fifth month running
  • Staffing levels remain very high

The Headline Sales Managers’ Index (SMI) for India – a composite indicator, designed to provide the most up-to-date monthly assessment of economic activity in the country – registered 66.4 in August, up from July. This signalled a further fast improvement in business conditions as reported by Indian sales managers. Boosting the SMI were stronger rises from four of its five components namely business confidence, market growth, product sales and staffing levels.

Sector analysis shows that the August Manufacturing SMI registered 62.7 which indicates a rapidly expanding sector. Meanwhile, the Services SMI rose to a five-month high of 68.2 from 66.7 on the previous month. This is the first time that the index has accelerated since January. These index values indicate continuing rapid expansion in economic growth for both of these key sectors in the Indian economy.

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