Thursday, September 22, 2016
Sales manager's Index in India shows expanding economy
The Indian economy continued to expand rapidly in September with a Headline Sales Managers’ Index (SMI) of 70.5 indicating rapidly growing levels of economic activity. The Business Confidence Index level for September has maintained its very high level and panel feedback suggests that the summer monsoon season has done little to dampen expectations.
The Sales Index has surged to a new all-time high reading, reflecting very high levels of growth across virtually all market segments, and indicating 7-8% GDP growth in the third quarter. New staffing levels continue to be buoyant and maintain a consistent level.
A growing economy does not always mean a higher stock market in the short term. However in the long term it does. India is looking good long term and I am playing ti using Fairfax India Holdings.