The February Global Sales Managers Index Rises to a 2-year High

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The only survey with current month, month-on-month, monthly year-on-year, and forward looking questions

Updated: February 19, 2024

World economic activity is starting to look rather buoyant when seen through the lens of economic growth in the world's three largest economies (China, India and the USA), which for most of the recent past have collectively contributed close to 60% of global growth.

The Sales Managers Global Business Confidence Index rose to an index reading of 53.2 in February, a 25-month high. All growth related Indexes were positive, and the overall composite Global Sales Managers Index came in at a 27-month high.

Global: Sales Managers Index Source: World Economics
Note: Data Shown as a Diffusion Index. (50 = 'No Change', above 50 = Increasing growth, below 50 = Declining growth)


Strong indications that the world may avoid the much predicted global recession in 2024, and enjoy at least moderate economic growth



Sales Managers Index Components



0 0 0 Global|#0A66C2|56, 56.9, 57.7, 58, 56.9, 56.4, 55.3, 56.8, 55.9, 54.9, 55.1, 55.2, 54, 53.2, 47.4, 43.2, 47.5, 49.6, 50.9, 50.4, 51.1, 51.7, 51.8, 52.6, 51.6, 52.7, 52.2, 52.8, 52.6, 53.7, 52.9, 52.6, 52.6, 53.3, 53.3, 53.6, 52.3, 53.5, 50.9, 51.1, 50.4, 50.3, 50.5, 50.9, 51.8, 52, 50.5, 50.3, 51.5, 51.9, 52.1, 51.5, 51.2, 48.7, 50.4, 51.4, 50.2, 52.6, 52.2, 50.6, 53.2 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Business Confidence

53.2
February 2024
Global Business Confidence grew at the fastest pace for over 2-years. The Business Confidence Index measures the level of optimism/pessimism among sales managers for future conditions.
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0 0 0 Global|#0A66C2|54.6, 54.8, 54.7, 54.2, 53.6, 53, 52.3, 52.6, 52.3, 50.9, 50.3, 50.6, 49.1, 49.5, 43, 37.8, 42.1, 45.7, 48.3, 48.9, 49.3, 49.7, 50.5, 51.7, 51.2, 51.1, 51.2, 51.3, 51.2, 52.6, 52.7, 52.1, 51.8, 51.7, 51.6, 52.3, 50, 49.7, 48.6, 48.8, 49, 48.7, 49.2, 50, 50.2, 49.8, 48.1, 48.3, 50.7, 50.9, 51.7, 50.6, 51.7, 49.7, 50.7, 51.4, 51.8, 52.3, 51.6, 51, 51.9 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Market Growth

51.9
February 2024
The Market Growth Index value increased by 0.9 index points in February. The Market Growth Index monitors the underlying growth of the market segments into which the panel members sell.
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0 0 0 Global|#0A66C2|55, 54.4, 54.2, 54, 53.1, 54.6, 53.8, 53.7, 53.6, 52.1, 52.5, 52.2, 48.9, 50.9, 45.1, 38.7, 44.1, 46, 48.4, 51.2, 50.5, 51.1, 52.9, 53.7, 51.9, 53.1, 52.6, 51.8, 52.6, 54.2, 54.2, 53.5, 53.6, 53.5, 52.7, 52.8, 53.2, 53.5, 51.4, 51.8, 50.7, 49.6, 50.5, 51.5, 52.1, 51.7, 50.7, 50.3, 53.6, 52.8, 51.9, 52, 52, 50.8, 52.7, 52.4, 52.5, 53.6, 52, 51.9, 53.1 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Sales Growth

53.1
February 2024
The Global sales growth index increased further in February. The Sales Growth Index defines the speed and direction of overall sales of goods and services (current month from previous month).
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0 0 0 Global|#0A66C2|52, 52.8, 53.4, 53.8, 53.3, 53.9, 54.6, 53.9, 55.3, 54.2, 53.7, 53.7, 52.7, 52.8, 49.3, 42.3, 44, 47.5, 51, 50.3, 51.2, 53.3, 53.3, 53.7, 51.5, 52, 52.1, 53.4, 54.2, 55, 54.3, 54.8, 55.2, 57.7, 55.6, 55, 54.5, 52.4, 52.9, 54.3, 54.6, 52.5, 51.8, 52.6, 52.5, 52.9, 51.2, 51.7, 52.3, 52.3, 52.2, 51.4, 51.8, 50.9, 52.6, 52.3, 53.7, 51.2, 51.9, 52, 51.8 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Prices Charged

51.8
February 2024
The Prices Charged Index eased lower in February to 51.8. 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.
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0 0 0 Global|#0A66C2|50.8, 50.9, 52.5, 51.8, 51, 50.2, 49.6, 50.6, 50.9, 50.5, 51.2, 50.6, 49.1, 48.2, 45.5, 35.6, 38.9, 41.7, 45.4, 47.4, 46.4, 47.4, 48.7, 47.8, 47.9, 50.1, 49.2, 48.9, 49.5, 51.8, 50.3, 50.3, 51.2, 51.2, 50.7, 49.6, 50.3, 49.9, 48.2, 49, 46.4, 47.4, 46.5, 46.2, 49.5, 49.1, 49.1, 48.5, 49.2, 49.2, 50.8, 50.1, 50.6, 48.2, 49.3, 49, 49.4, 50.5, 51.6, 48.8, 51.5 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Staffing Levels

51.5
February 2024
Staffing Levels continued to rise in February with an index reading well above the 'no growth' level. The Staffing Levels Index monitors the level of growth or decline in employment against the same period a year earlier.
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0 0 0 Global|#0A66C2|49.9, 49.5, 50.7, 49.4, 49.8, 49.6, 50, 49.6, 50.3, 49.6, 50.2, 50.1, 47.3, 45.7, 42, 35.4, 38.6, 39.7, 44.2, 45.2, 45.8, 47.4, 48.6, 46.3, 45.9, 46.6, 47.9, 48.8, 48.5, 50.1, 49.8, 47.7, 47.6, 49.4, 47.8, 48.9, 47.6, 50.9, 45.5, 48.1, 47.4, 45.4, 46.9, 47.6, 48.4, 48.5, 48.6, 47.5, 47.6, 48.6, 49.6, 48.7, 49.1, 48.7, 47.9, 46.9, 47, 50.5, 51, 49.3, 50.1 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Profit Margins

50.1
February 2024
Profit Margins increased in February but at a very slow rate.
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About the 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.






About the Data

Global SMI data is published as diffusion indexes to gauge the speed and direction of economic activity.

Monthly data for 8 years is downloadable in a consistent unadjusted format for the 7 key indexes: