Released:18 September 2018

Sales Mangers Report Continuing Rapid Growth in India Through September

  • Business confidence remains high
  • Sales and Market Growth Indexes reflect continuing growth
  • Job growth continues but at a significantly reduced rate

The Indian economy continued to expand at a rapid pace in September with a Headline Sales Managers’ Index (SMI) of 61.1. The Market Growth Index, which monitors the overall state of business activity, remained relatively stable during the month. Business Confidence Index increased from the down-tick experienced in August but was lower than the recent highs in Quarter 2. Sales Managers are reporting that sales remain strong despite market competition but the devaluation of the Rupee from 63INR to over 72INR against the USD during 2018 has put considerable strain on their ability to offer discounts and as a consequence, profit margins are being eroded with a Profit Margins Index value of 44.6.

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 India SMI Data

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

Key advantages of the Indian SMI:

  • The SMI provides the first indication each month of the speed and direction of economic growth in India.
  • 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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