All Indian Growth-Related Indexes Stay Positive in August

Data shows growth likely to continue at least into Q4.

The First Data on Economic Activity Levels in India - Every Month
The only survey with current month, month-on-month, monthly year-on-year, and forward looking questions
Updated: August 19, 2024

Indian Sales Managers reported another month of rapid economic growth in August. All growth related indexes are now reflecting strong expansion across a wide variety of business sectors.

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

The Business Confidence Index reflecting the vital "animal spirits" factor in economic growth indicates that continued significant expansion in economic activity is now expected to continue throughout the fourth quarter of the year.

And the Jobs Index, for so long reflecting business caution in recruiting after the difficult Covid period, remains well over the 50 "no growth" bar, adding to the impression that business confidence is increasingly positive.

Overall, the survey results are good news for India. And, as long as the business boom doesn't degenerate into a business bust, good news for investors.

Sales Managers Index Components

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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.