Back to Homepage

Dramatic Falls in US Sales Managers March Survey

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

Updated: March 21, 2022

United States SMI: Headline Sales Managers Index


Source: World Economics
Note: Data Shown as a Diffusion Index. (50 = 'No Change', above 50 = Increasing growth, below 50 = Declining growth)
0 0 0 USA|#0A66C2|61.2, 60.1, 60.7, 56.2, 55.5, 54.6, 53.4, 52.6, 55.7, 53.9, 55.4, 58, 58.5, 60.5, 58.4, 61.2, 63.5, 59.5, 61.3, 51.2, 53.9, 55.5, 58.2, 57.5, 61.8, 62.9, 62, 63.3, 60.7, 61.7, 60.3, 59.3, 58.8, 58.7, 60.5, 62.2, 61, 60.9, 60.1, 60.7, 61.4, 57.2, 57, 53.4, 53.8, 51.8, 51.7, 50.9, 53.3, 52.9, 51.6, 50.6, 50.6, 50.4, 51.1, 49.9, 50.8, 53.2, 52.5, 53.5, 54.4, 54.9, 54, 54.2, 55.4, 55.8, 54.5, 56, 56.5, 54.8, 55.6, 55.4, 56.6, 55.6, 55.3, 58, 59.6, 59.3, 59.6, 60.4, 60.4, 57, 53.9, 56.1, 55, 56.1, 55.9, 54.1, 53.7, 51.8, 53.5, 52.3, 51.9, 52.9, 52, 51.2, 47.9, 41.7, 34.6, 41.1, 44.1, 48.5, 50.7, 48.2, 48.9, 51.2, 51.5, 49.9, 51.5, 51.3, 52, 52.7, 54.9, 53.2, 52.4, 52.6, 54.5, 53.2, 53.5, 51.3, 49.5, 50.3 Mar 2012, Apr 2012, May 2012, Jun 2012, Jul 2012, Aug 2012, Sep 2012, Oct 2012, Nov 2012, Dec 2012, Jan 2013, Feb 2013, Mar 2013, Apr 2013, May 2013, Jun 2013, Jul 2013, Aug 2013, Sep 2013, Oct 2013, Nov 2013, Dec 2013, Jan 2014, Feb 2014, Mar 2014, Apr 2014, May 2014, Jun 2014, Jul 2014, Aug 2014, Sep 2014, Oct 2014, Nov 2014, Dec 2014, Jan 2015, Feb 2015, Mar 2015, Apr 2015, May 2015, Jun 2015, Jul 2015, Aug 2015, Sep 2015, Oct 2015, Nov 2015, Dec 2015, Jan 2016, Feb 2016, Mar 2016, Apr 2016, May 2016, Jun 2016, Jul 2016, Aug 2016, Sep 2016, Oct 2016, Nov 2016, Dec 2016, Jan 2017, Feb 2017, Mar 2017, Apr 2017, May 2017, Jun 2017, Jul 2017, Aug 2017, Sep 2017, Oct 2017, Nov 2017, Dec 2017, Jan 2018, Feb 2018, Mar 2018, Apr 2018, May 2018, Jun 2018, Jul 2018, Aug 2018, Sep 2018, Oct 2018, Nov 2018, Dec 2018, Jan 2019, Feb 2019, Mar 2019, Apr 2019, May 2019, Jun 2019, Jul 2019, Aug 2019, Sep 2019, Oct 2019, Nov 2019, Dec 2019, Jan 2020, Feb 2020, Mar 2020, Apr 2020, May 2020, Jun 2020, Jul 2020, Aug 2020, Sep 2020, Oct 2020, Nov 2020, Dec 2020, Jan 2021, Feb 2021, Mar 2021, Apr 2021, May 2021, Jun 2021, Jul 2021, Aug 2021, Sep 2021, Oct 2021, Nov 2021, Dec 2021, Jan 2022, Feb 2022, Mar 2022, Apr 2022,




The US Sales Managers March Survey, researched entirely after the Russian invasion of Ukraine, shows a steep decline in sentiment across all indexes. 

Business Confidence on business prospects for the next few months, already steeply falling in the days immediately prior to the invasion moved to a 16 month low, at the 50 "no growth" level.

 

The Sales Growth Index fell an alarming 4 points to an index reading of 49.6, a 19 month low, taking sales sentiment back to the gloomy Covid days of August 2020..

The Staffing Index fell even further below the 50 line, to an Index reading of 48.5, a 13 month low.

The Headline Sales Managers Index also fell to a new 16 month low at an Index reading of 49.5. Longer term worries came to the fore in March with sharply contrasting views from many respondents indicating worries about sales growth prospects in the markets in which they operate, reflecting the as yet unknown impact of the Russian invasion on different sectors of activity.

 

Price Inflation remained a serious worry in many sectors with the Price Index continuing to register very high levels around the 58 mark, indicating continuing Price inflation far above levels seen for most of the past decade.

 

Finally the Profit Levels Index reflected a sharp reduction in margins in the month, associated in many cases with the expectation of rising costs associated with the new war, notably energy related.

 





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.






SMI Indexes



Headline SMI Index
40  60
 
50




Business Confidence Index
40  60
 
50




Market Growth Index
40  60
 
50




Sales Growth Index
40  60
 
50




Prices Charged Index
40  60
 
50




Staffing Levels Index
40  60
 
50




Profit Margins Index
40  60
 
50




About the Data

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

Monthly data for over 10 years is downloadable in a consistent unadjusted format for the 7 key indexes.