Sales Managers Indexes



The Sales Managers' Indexes provide the earliest monthly data on the speed and direction of economic activity in key growth areas of the world.

The SMI’s (Sales Managers’ Indexes) are compiled and analysed by World Economics and are based on survey data collected from a panel of companies stratifying all Industry Classification Board (ICB) sectors which are weighted to reflect their contribution to national Gross Domestic Product.

Key advantages of the SMI's:

  • The SMI's provide the first indication each month of the speed and direction of economic growth.
  • The SMI's provide the most complete indication of growth, covering all private sector activity.
  • The SMI's are based on a key occupational group - sales executives - uniquely able to sense accurate changes in business activity levels.
  • The SMI survey base - salespeople - are used by virtually all businesses, including in frontier markets, unlike other occupational groups.
  • The SMI's focus on the key countries contributing to over 60% of global growth in recent years.


Latest SMI releases


GLOBAL: Global Economy Shows Renewed Momentum in November
The Global Sales Managers Index (SMI) for November rose to 51.7, indicating a modest acceleration in global economic expansion compared to October’s level. The improvement was led by a sharp rebound in Sales Growth to 54.1, the highest reading in over 4 years, alongside the strongest Market Growth Index in eight months. Pricing pressures eased slightly, while staffing levels and profit margins remained subdued. The November data points to resilient global activity entering the final month of 2025, supported by robust demand despite persistent caution around trade and geopolitical risks.
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CHINA: China's Economy Maintains Steady Expansion in November, Supported by Rising Prices and Market Growth
The November Sales Managers Index (SMI) for China suggests continued moderate economic expansion continues, with the Headline All-Sector SMI reaching 51.3, a four-month high. Growth remains broadly balanced across sectors, supported by the strongest pricing power in over three years and a notable recovery in perceived market growth. Despite persistent external pressures, the economy has now recorded four consecutive months of Headline SMI above 51, and seven above the critical 50: no growth threshold, underlining a phase of quiet stabilisation following earlier softness earlier in the year.
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UNITED STATES: US Sales Managers Index Signals Subdued Growth in November
The Headline Sales Managers Index (SMI) for the United States rose marginally from 51.0 in October to 51.1 in November 2025, continuing to signal fragile but positive economic expansion. The most encouraging development was a strong rise in the Sales Growth Index to 54.1, its highest level in 11 months, suggesting some businesses are already seeing an early start to the crucial holiday shopping season. However, this was partially offset by a notable easing in pricing power and a dip in business confidence below the key 50 threshold.
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INDIA: The Indian Economy Maintains Strong Momentum in November
Indian Sales Managers reported a further solid month of economic expansion in November. Growth-oriented indexes remain firmly in expansionary territory, with most components either holding steady at elevated levels or reaching multi-month highs.
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Notes & Methodology

The SMI’s (Sales Managers’ Indexes) are compiled and analysed by World Economics and are based on survey data collected from a global panel of over 4500 companies stratifying all Industry Classification Board (ICB) sectors which are weighted to reflect their contribution to national Gross Domestic Product for each country/region.

The Sales Managers’ Index results are diffusion indexes which are calculated by taking the percentage of respondents that report that activity has risen (“Increasing") and adding it to one-half of the percentage that report the activity has not changed (“Unchanged"). Using half of the “Unchanged" percentage effectively measures the bias toward a positive (above 50 points) or negative (below 50 points) index. An example of how to calculate a diffusion index: if the response is 40% “Increasing," 40% “Unchanged," and 20% “Reducing," the Diffusion Index would be 60 points (40% + [0.50 x 40%]). A value of 50 indicates "no change" from the previous month.

The more distant the index is from the amount that would indicate "no change" (50 points), the greater the rate of change indicated. Therefore, an index value of 58 indicates a faster rate of increase than an index value of 53, and an index value of 40 indicates a faster rate of decrease than an index value of 45. A value of 100 indicates all respondents are reporting increased activity while 0 indicates that all respondents report decreased activity.

Three month Moving Averages are applied to each index to mitigate the effect of seasonal variations and published as the index figures



About the Sales Managers’ Indexes

The Sales Managers’ Indexes are a series of products developed by World Economics which counts panellists in key countries worldwide. Designed to raise the voice and profile of sales people throughout the world, the Sales Managers’ Indexes provide the earliest indication each and every month of the direction of economic activity, and the speed at which its markets are growing.

Sales Managers are unique as an occupational group in being right at the front line of economic activity. The Sales Manager is ideally placed to feel the first few whispers of caution in the market or to see the new green shoots of economic recovery.

The Sales Managers’ Index brings together the collective wisdom of Sales Managers and consequently produces the best and earliest source of understanding about what’s really happening in each economy. The Sales Managers’ Index has been developed by World Economics, a leading edge provider of original economic data.



About the World Economics

World Economics is an organisation dedicated to producing analysis, insight and data relating to questions of importance in understanding the world economy. Its parent company Information Sciences Ltd has a long history of the development of key business information today used throughout the world, including the origination and development of the Purchasing Managers Indexes in China, Japan, India, Europe, America and the UK (now owned by &P Global), and the development of WARC a global information provider for major corporations (now owned by Ascential).