Released: 17 October 2017

China’s Sales Managers’ Index Increases in October

  • Sales Growth Index remains high
  • Price inflation moderates
  • But business confidence and jobs growth remain muted

Sales Managers’ Index (SMI) data shows that the Chinese economy continued to grow in October at a slightly faster rate than in September. This month’s level is consistent with the past yearly average indicating the Chinese economy is continuing to grow at a steady rate. During the past month there has been little change in the levels of the Market Growth, Sales Growth and Business Confidence Indexes with panellists suggesting that Chinese businesses and consumers are remaining cautious ahead of the forthcoming China Communist Party congress – the twice-a-decade political conclave that helps shape economic policy for future years.

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 economic activity in China.

Key advantages of the Chinese 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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