Thursday, November 24, 2016

India Sales managers Index at all time highs

World Economics:

The Indian economy continued to expand rapidly in November with a Headline Sales Managers’ Index (SMI) of 72.6, up from 71.3 in October. The SMI has now hit the highest level in five years reflecting the great success of current economic policies in India. Business Confidence maintained its ultra-high level in November on the back of rising sales and market growth. The Market Growth Index reflects very rapid economic growth almost certainly now at Prime Ministers Modi’s target of 8% Annual GDP Growth. The Staffing Levels Index also reflects a tremendously buoyant economy with new jobs being generated in increasing numbers every month.

With such strong business confidence, rapid levels of growth and strong jobs’ data, coupled with low price inflation there appear to be few constraints emerging to hinder higher future growth in 2017.

India continues to boom. I am wondering if we will see some effects of the Indian's government to remove high denomination bills from circulation. I continue to like Fairfax India as a way to play India long term. 

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