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World Economics - Measuring Global Economic Activity and GDP

The Sales Managers Index: India

Released: November 19, 2015

India’s SMI reaches new record-high in November amid stronger sales

  • Manufacturing and Services growth rise further
  • Prices charged continued to fall albeit at slower pace
  • Employment levels hit fastest rate in 19 months

The World Economics Headline Sales Managers’ Index (SMI) for India is a composite indicator, designed to provide the most up-to-date monthly assessment of economic activity in the country. Any figure greater than 50.0 indicates an overall improvement in business conditions. The headline index read 69.2 in November, up from 68.3 in October, signalling the fastest rate of economic expansion in the history of the panel. The upward movement in the SMI mainly reflected stronger rises in confidence, product sales and job levels. Market growth was still robust while prices fell at slower pace.

Sector analysis data for November shows that the headline Manufacturing SMI was up to 67.0, the third consecutive month that the index has increased. Meanwhile, the Services SMI rose for the fourth successive month to register 70.4. These index values indicate rapid economic activity for both sectors across the country, with the service sector continuing to lead the overall economic expansion.

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