October US Sales Indexes Stay Positive Indicating Continuing Growth


 
The Sales Managers Indexes covering business activity in the US economy in October, reflect benign conditions and a continuation of widespread growth in many industry and services sectors.

The two indexes highlighted in September (the Business Confidence Index and the Staffing Index), as looking as if a downward trend could be emerging, have both reversed direction. While reversing last month's downward trajectory is very positive, the key Business Confidence Index worryingly remains in negative territory, with an Index reading of 49. The Business Confidence Index is important as it asks panelists about expected conditions in the months ahead, rather than focussing on what's happening in their markets today, as do most of the other Indexes in the Sales Managers Index suite.


The Staffing Index has also reversed direction, but from a negative Index reading to a positive one, suggesting at least some companies are becoming more confident about the future, despite the seemingly endlessly negative news from Europe and Asia.

In summary, the US economy looks to be in reasonably good shape, but those with a bearish disposition should keep their eyes fixed on forthcoming months Confidence Indexes. If the reversal last month of the six months long fall in Confidence should reverse again into a continuation of the previous downward spiral, the outlook for 2025 may not be so good...


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