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African business confidence grows
Wednesday, 3rd August, 2011
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.
The New Vision Newspaper
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