May Sales Managers Surveys Remain Optimistic

The First Data on Global Economic Activity Levels - Every Month
The only survey with current month, month-on-month, monthly year-on-year, and forward looking questions

Updated: May 20, 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, the USA and India), measured in Purchasing Power Parity terms.

Global: Sales Managers Index: May 2024 Source: World Economics
Note: Data Shown as a Diffusion Index. (50 = 'No Change', above 50 = Increasing growth, below 50 = Declining growth)


For most of the recent past these countries have collectively contributed close to 60% of global growth, so if their survey numbers are looking good, prospects for the world as a whole are unlikely to be too far behind.

The Sales Managers growth related Indexes are now all consistent with expectations of significantly expanded economic activity in the remainder of 2024. Of particular note , the growth related components of the Global Sales Managers Index are all positive, and Business Confidence in both China and India is bullish. Consistent with this view, global equity indexes are mostly at all-time highs.

These data provide significant indications that the world may avoid a much predicted global recession brought on by rising interest rates in 2024, and continue to enjoy economic growth this year.



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, 53.2, 52.8, 52.2 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Business Confidence

52.2
May 2024
The Global Business Confidence Index eased slightly in May. 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, 51.9, 51.5, 51.5 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Market Growth

51.5
May 2024
The Market Growth Index value remainly unchanged in May - above the 50 line. 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, 53.3, 54.1, 53.2 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Sales Growth

53.2
May 2024
The Global sales growth index eased back in May from Aprils recent peak. 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, 50.5, 53, 52.2 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Prices Charged

52.2
May 2024
The Prices Charged Index slowed in May. 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, 49.9, 50.4, 50.6 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Staffing Levels

50.6
May 2024
Global staffing levels grew marginally in May, 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.
Find out more about SMI Diffusion Indexes
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, 49.5, 49.6, 49.6 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Profit Margins

49.6
May 2024
Profit Margin growth remained unchanged in May, falling at a 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: