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Global service sector sales hit 12 month high

Staff Writer |
The Global Services industry continued to grow at a modest pace in January, according to World Economics.

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The Headline Sales Managers’ Index was 54.4 - down by 0.2 on the January level. The Headline Sales Managers’ Index (SMI) is a composite indicator designed to provide the most up-to-date assessment of business activity.

Business confidence remained strong in January signalling that sales managers expect business conditions to remain favourable in the coming few months.

Sales of consumer goods and services are now at the highest level for 12 months with a Sales Growth Index reading of 57.5 in January. Price rises for services remain low but with steady levels of growth evident.

Overall the Global Services sector has continued as the main driver of global growth at the start of 2017.