US Sales Managers Confidence Rises in September

Market Growth Index at 11-Month High
The First Data on Economic Activity Levels in the United States - Every Month
Updated: September 20, 2023

The US Sales Managers Market Growth Index accelerated to an 11-month high in September, following a sharp turnaround in the Business Confidence Index, now back in positive territory.

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

The indexes are currently reflecting buoyant growth over a wide spectrum of economic activity.

But below the surface of continuing growth worrying trends are evident, with Price Inflation still high (although now on a declining trend) and the Staffing index still remaining below the crucial 50 Index level.

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


In all probability these undercurrents are directly related to the Federal Reserve's continuing attempts at reducing price inflation via interest rate rises.



Sales Managers Index Components


0 0 0 USA|#0A66C2|55.6, 53.8, 53.9, 53.9, 53, 52.6, 48.6, 41, 38, 45, 48.3, 50.4, 50.8, 49, 49.7, 51.2, 52.3, 51.7, 52.7, 52.4, 54.6, 53.6, 53.9, 52.1, 52.1, 52.2, 55, 54.8, 54.6, 50.7, 50, 50.7, 51, 49.7, 50, 50, 50.7, 53.2, 51.6, 51.4, 50, 50.3, 50.4, 51.4, 50, 50.7, 46.8, 48.3, 51.4 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Business Confidence
51.4
September 2023
The Business Confidence Index increased 3.1 index points in September.
The Business Confidence Index measures the level of optimism/pessimism among sales managers for future conditions.
Find out more about SMI Diffusion Indexes
0 0 0 USA|#0A66C2|54, 53.4, 52.7, 51.9, 51.9, 51.4, 49.7, 40.6, 35.1, 42.3, 47.9, 49.6, 50.8, 50.3, 50, 52.1, 53.4, 51, 51.7, 51, 52, 52, 55.1, 54.2, 53.2, 52.9, 53.9, 53.4, 54.6, 50, 50, 49.6, 51.7, 51, 50.6, 51, 52.6, 54.6, 51.9, 51.1, 50, 53.1, 52.3, 52.8, 50.7, 53.6, 51.1, 53.5, 53.8 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Market Growth
53.8
September 2023
The Market Growth Index continued to show increasing growth in September.
The Market Growth Index monitors the underlying growth of the market segments into which the panel members sell.
Find out more about SMI Diffusion Indexes
0 0 0 USA|#0A66C2|53.6, 52.1, 51.2, 53.9, 52.7, 52, 48.9, 42.5, 34.3, 43.2, 43.6, 48.8, 53.5, 50, 50.7, 51.2, 53.7, 52, 52.3, 51.7, 51.6, 53, 55.1, 54.5, 53.2, 53.3, 55.4, 53.1, 55.3, 53.6, 49.6, 51.8, 52.1, 50, 49.7, 50.3, 53.3, 53.5, 52.8, 51.4, 48.9, 54.1, 51.5, 50.7, 50.7, 52.9, 50.7, 53.5, 52.1 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Sales Growth
52.1
September 2023
The Sales Growth Index value eased slightly for the month.
The Sales Growth Index defines the speed and direction of overall sales of goods and services (current month from previous month).
Find out more about SMI Diffusion Indexes
0 0 0 USA|#0A66C2|53.6, 55.9, 55.8, 54.7, 55.1, 54.6, 51.7, 49.1, 40.1, 43.7, 47.9, 52.8, 52.4, 52.9, 56.5, 56.2, 57.4, 54.4, 56, 55.8, 57.2, 57, 58.4, 57.6, 56.4, 55.1, 59.7, 58.2, 58.2, 58, 57.7, 53.2, 55.2, 56.3, 53.2, 54.5, 56.6, 56, 56.6, 55, 52.8, 55.8, 56.4, 54.2, 54.8, 55.4, 54.9, 57.6, 54.1 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Prices Charged
54.1
September 2023
The Prices Charged Index slowed to an 8-month low in September.
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.
Find out more about SMI Diffusion Indexes
0 0 0 USA|#0A66C2|50.8, 50, 50, 51.9, 50.3, 48.9, 44.2, 42.9, 31, 33.8, 36.4, 45.1, 47.6, 43.6, 45.4, 50.4, 46.6, 45, 49.3, 50, 49.7, 52.3, 55.6, 52.1, 51.1, 52.2, 53.5, 51.4, 49.6, 50.7, 48.5, 48.9, 50.7, 45.5, 48.1, 46.6, 45.7, 50.7, 49.4, 50.7, 47.9, 49.3, 48.1, 52.1, 50.3, 50.4, 47.2, 47.9, 48.3 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Staffing Levels
48.3
September 2023
The Staffing Levels Index remained in contraction territory in September.
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 USA|#0A66C2|48.8, 50.4, 48.4, 51.6, 49.5, 49.4, 40.9, 40.6, 30.6, 33.3, 32.2, 42.7, 42.3, 43.6, 46.1, 47.9, 44, 45, 44.3, 46.6, 49.3, 50, 52.2, 50.7, 46.4, 47.5, 51.6, 46.9, 48.2, 46.4, 45.6, 43.6, 49.3, 48.3, 43.2, 46.6, 48.3, 50.4, 48.4, 49.6, 45.7, 45.9, 48.5, 50, 47.3, 50, 49.3, 46.5, 45.9 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Profit Margins
45.9
September 2023
Profit Margins fell futher in September.
Find out more about SMI Diffusion Indexes





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 United States growth in recent years.






About the Data

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

Monthly data since 2011 is downloadable for all-sectors in a consistent unadjusted format for 7 key indexes:










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