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The Sales Managers Index: Latin America

Released: March 21, 2017

March Data Shows Continuing Recession, Falling Employment and Rising Inflation in Latin American
  • Business confidence remains weak as recovery hopes recede
  • Market and Sales Indexes continue to fall
  • Prices inflation for goods and services rises as major currencies weaken against the USD

The Headline Latin American Sales Managers’ Index (SMI) was 48.4 in March – down 0.6 points from 49.0 in February. The level of the monthly Sales Growth Index, which tracks the sales of goods and services, fell further in March to 47.2 indicating a further contraction in economic activity. Panel managers are citing weakness in the Brazilian Real and Mexican Peso against the US Dollar as being a problem and a growing cause for concern for businesses, due to higher import prices. The Business Confidence Index, which expresses the sentiment among Sales Managers, eased to 51.0 in March, the fourth consecutive month that the level of the index declined. Overall, the latest survey data suggests that the improving economic trends previously reported for Brazil and Mexico and the wider Latin American region have turned back into deeper recession.

Market Growth Index

Prices Charged Index

Sales Managers' Indexes Trends


Direction Speed
SMI Falling Slowly
Business Confidence Growing Slowly
Market Growth Falling Faster
Sales Output Falling Faster
Prices Charged Growing Modestly
Staffing Levels Falling Solidly

Staffing Levels Index

About Latin American SMI Data

The Sales Managers Index provide the earliest monthly data on the speed and direction of Latin America economic activity.

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