Thought of the Day

Indian April Sales Managers Survey Reports Continuing Rapid Economic Growth


 
24 April 2024
 
Indian Sales Managers report rapid economic growth in April. All growth related indexes are now reflecting strong expansion across a wide variety of business sectors.

The key Sales Growth Index is now at a 48 month high. The Business Confidence Index showing the vital "animal spirits" factor in economic growth is burgeoning. The overall Sales Managers Index, reflecting the performance of the economy on the basis of all sub indexes, stays at a level indicating widespread business growth.

India Sales Growth Index: April
Diffusion Index. (50 = 'No Growth')
Indian April Sales Managers Survey Reports Continuing Rapid Economic Growth
Indian April Sales Managers Survey Reports Continuing Rapid Economic Growth

And the Jobs Index, for so long reflecting business caution in recruiting after the difficult Covid period, suggests that the fear of hiring has now evaporated, and businesses across a broad swathe of sectors are once again investing in people.

The only negative revealed by the survey is the persistence of price inflation, but this Index is at a comforting 5 month low, and in any event probably now partially reflects price pressures caused by the rapid expansion of economic activity.

Overall, the survey results are very good news for Mr Modi, with his forthcoming election.

And as long as the business boom doesn't degenerate into a election led business bust, good news for investors.
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