The Indian economy continues to grow rapidly. The Business Confidence Index shows "animal spirits", the essential ingredient in economic growth, to be burgeoning, and almost at a 4 year high. The likelihood of fast GDP growth over the first half of 2024 is now high.
The Market and Sales Growth Indexes, both indicate robust growth across a wide spectrum of sectors.
The Jobs Index suggests that the caution evident for many months in relation to recruitment activity has now evaporated, and businesses across a broad industry base are once again investing in people.
The all inclusive Sales Managers Index is consequently also reflecting strong growth, and is at a 47 month high.
Very good news for Indian business and investors in India.
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:
SMI data for India is published as diffusion indexes to gauge the speed and direction of economic activity.
Monthly data since 2014 is downloadable for all-sectors in a consistent unadjusted format for 7 key indexes: