Global business activity saw slight increase
The Headline Sales Managers’ Index (SMI) – a composite indicator designed to provide the most up-to-date assessment of business activity – posted 53.2, up from 52.9 in September, World Economics reported.
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 their national Gross Domestic Product.
This represents the third successive month-on-month improvement after the prolonged period of slowing growth. Business confidence has hit a nine month high after the monthly Sales Index also continued to increase to the highest reading in the past year.
Price rises for goods and services have remained modest during the month and the Staffing Levels Index continues under the 50 ‘no change level’. ■