Africa Business Confidence Index reflects private sector resilience
Manufacturing index 60.3 and non-manufacturing index 58.9, both indicating expansion; manufacturing higher than February; non-manufacturing slightly lower than previous month
The Africa Business Confidence Index (ABCI) for March shows growth in both the index for manufacturing and non-manufacturing sectors in Africa. The difference compared to February in the indices for manufacturing shows a plus of 2.2 and for non-manufacturing a decrease of 1.4 percentage points. The index measures business confidence in the manufacturing and non-manufacturing private sector throughout Africa. Results are published on a monthly basis.
The March ABCI results indicate confidence and growth with an index of 60.3 and 58.9 for the manufacturing and non-manufacturing sectors respectively. A level of 50 and above indicates expansion. Business professionals from more than 30 countries in Africa participated in the survey making the results a reliable gauge and early indicator of the underlying economic activity on the African continent.
“Although results for the March business confidence index in Africa show a mixed picture for the manufacturing sector versus the non-manufacturing, the overall trend of private sector confidence in Africa remains positive. The private sector in Africa has shown resilience despite political turmoil in Northern Africa, while an increasing number of countries in sub-Saharan Africa benefit from continued high prices for commodities including oil. Africa’s private sector continues to show growth which will benefit African economies going forward.” says Natalie Maule, Managing Director africapractice East Africa in Nairobi.
The ABCI follows a similar methodology and logic as the PMI indices which set the global standard. Members of the African Business Panel are business professionals and entrepreneurs working in Africa’s private sector. On a monthly basis they are invited to report change from the previous month on the following indicators: new orders, production, employment, supplier deliveries, inventories, costumer inventories, prices paid, backlog of orders, new export orders and imports for the manufacturing sector, and similar indicators for the non-manufacturing sector. For more information on the survey and index methodology please visit www.africabusinesspanel.com.
March ABCI Results Highlights:
Private sector business confidence index for the African continent
• African business professionals from more than 30 countries in Africa participated in this survey
• Manufacturing sector confidence index 60.3; non-manufacturing 58.9
• These levels indicate expansion for manufacturing and non- manufacturing sectors in March
About Africa Business Panel
Africa Business Panel (ABP) is a joint initiative of Africa Business Communities (www.africabusinesscommunities.com) , a fast-growing network of African entrepreneurs and business professionals, and NarrowMinds (www.narrowminds.com), a leading architect of online market research and loyalty programs.
Africa Business Panel generates reliable indices on business developments and economic outlook in Africa. In doing so, Africa Business Panel wishes to contribute to the continent’s business reputation and produce in-depth market research data for governments, the business community and international organizations. Africa Business Panel provides intelligent matches for African business professionals with the rest of the world which results in promising business opportunities.
Join the Panel
Business professionals based in Africa are invited to join the Africa Business Panel. As a member of the Panel your insights and opinions directly contribute to the Africa Business Confidence Index. Panel members benefit by participating: the outcome of the survey results are shared with Panel members directly and in greater detail than with non-members. All surveys are permission based, allowing you to decide when and to what degree you wish to participate. Your personal details are treated strictly confidentially by the Africa Business Panel. No personal information is ever published or sold to third parties. If you qualify, please go to www.africabusinesspanel.com and click on Register and shine your light on the business climate in Africa!
More information
Africa Business Panel/NarrowMinds
Martin de Koning
M 0031-655-82 24 09
Van Heenvlietlaan 220
1083 CN Amsterdam
The Netherlands
This article was originally posted on Africa Media Network
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