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The Sales Managers Index: South Africa

Released: April 18, 2017


South African Sales Managers See First Signs of Growth 
  • Business confidence remains very low
  • Prices continue to rise as Rand remains weak
  • Small hesitant signs of economic growth emerge in April

Business conditions in South Africa continued to remain challenging in April, with the Headline Sales Managers’ (SMI) – a composite indicator designed to provide the most up-to-date assessment of business activity, reporting 50.7. The Index moved just above the 50.0 level that separates growth from contraction after sixth consecutive month under the threshold. Sales of goods and services, as represented by the Sales Growth Index, also improved in April with prices being charged rising further. Managers are reporting the increased prices are due to the weak Rand and volatile business conditions. Overall, the latest SMI data suggests that the South African economy is showing very tentative signs of growth but business optimism remains weak.



Headline Sales Managers' Index




Market Growth Index





Business Confidence Index




Prices Charged Index





About South African SMI Data



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

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