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Strong sales growth drives improving business confidence in Asia

Staff Writer |
The Headline Sales Managers’ Index (SMI) for Asia was 56.6 in February.

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The February reading represents strong economic growth for the region as a whole and a continuation of the solid start to 2017.

The primary driver of growth in Asia is coming from improved conditions in China and India’s rapid levels of economic activity despite the sudden shock experienced in December by the recent demonetisation policy.

Businesses in China has continued to report improving conditions in both the services and manufacturing sectors in February, World Economics reports.

The Philippines are also making a marked contribution to the region as the economy grows at a robust pace.

Business confidence levels in Asia remain very high based on strong sales and firm overall market growth.

Price inflation for February remained low but is continuing to grow steadily.