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Africa Business Confidence Index for September shows slow growth

By Jeorge Wilson Kingson The Africa Business Confidence Index (ABCI) for the month of September has revealed growth in both the index for manufacturing and non-manufacturing sectors in Africa. The difference compared to August in the manufacturing and non-manufacturing indices shows a decrease of about 1.1 and 2.0 percentage points respectively. The index measures business confidence in the manufacturing and non-manufacturing private sector throughout Africa with the results published on monthly basis. The September ABCI results indicate confidence and growth with an index of 51.3 and 53.3 for the manufacturing and non-manufacturing sectors respectively. Business professionals from about 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. On a monthly basis they are invited to report change from the previous month on indicators such as new orders, production, employment, supplier deliveries, inventories, costumer inventories, prices paid, backlog of orders, new export orders and imports for the manufacturing sector. Same are the indicators for the non-manufacturing sector. Africa Business Panel (ABP) is a joint initiative of Africa Business Communities, a fast-growing network of African entrepreneurs and business professionals, and NarrowMinds which is a leading architect of online market research and loyalty programs.

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