Manufacturing index 58.1 and non-manufacturing index 60.3 both indicating expansion; rate of change is slower than previous month
The African Business Confidence Index (ABCI) for February shows growth in both the index for manufacturing and non-manufacturing sectors in Africa albeit lower than in January. The difference compared to January in the indices for manufacturing and non-manufacturing is 5.8 and 1 percentage points respectively. The index measures business confidence in the manufacturing and non-manufacturing private sector throughout Africa. Results are published on a monthly basis.
February’s results indicate confidence and growth with an index of 58.1 and 60.3 for the manufacturing and non-manufacturing sectors respectively. A level of 50 and above indicates expansion. Business professionals from more than 35 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.
"Lower results for the February business confidence index in Africa reflects the political turmoil in North Africa as well as in Ivory Coast. Also, one of Africa’s largest stock exchange in Egypt has been closed for more than 2 weeks now. However, it is heartening to see that in both the manufacturing sector and the non-manufacturing sector the index still shows growth. We are pleased with the new pan-African business confidence index which allows us to track the mood of the private sector on the African continent," says Fabrice Nze-Bekale, Director Telecoms & Media at Standard Bank in London.
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
Private sector business confidence index for the African continent
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 and in doing so 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 offering 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!
For more information:
Africa Business Panel/NarrowMinds
Martin de Koning
+31 6 558 22 409
Van Heenvlietlaan 220
1083 CN Amsterdam