A Uganda Newspaper has reported that the Africa Business Confidence Index (ABCI) for July shows growth in both manufacturing and non-manufacturing sectors in Africa.
The difference compared to June in the indices for manufacturing and non-manufacturing shows a decrease of 2.2 and 4.4 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.
The July ABCI results indicate confidence and growth with an index of 51.7 and 56.0 for the manufacturing and non-manufacturing sectors respectively. A level of 50 and above indicates expansion. Business professionals from 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.
The ABCI follows a similar methodology and logic as the PMI indices, which set the global standard. Members of the Africa Business Panel are business professionals and entrepreneurs working in Africa’s private sector.