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Manufacturing index 53.8 and non-manufacturing index 57.1, both numbers still indicating growth for the 5th consecutive month; manufacturing down by 0.9 percentage points; non-manufacturing 1.1 percent point higher compared to April.
Amsterdam, June 2, 2011. The Africa Business Confidence Index (ABCI) for May shows growth in both the index for manufacturing and non-manufacturing sectors in Africa. The difference compared to April in the manufacturing index shows a decrease in business confidence of 0.9 percentage points, the non-manufacturing business confidence shows a plus of 1.1 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 May ABCI results indicate confidence and growth with an index of 53.8 and 57.1 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.
Lourens van Niekerk, Senior Manager at Standard Bank, South Africa: "Angola is still growing economy at massive speed and with the oil price appreciation it's bound to continue. Distinct lack of certain products and services is growing instead of declining and makes Angola a frontier market of the first order. Also watch stock exchange developments, construction, green sector and professional services. SA's strategy after joining BRIC is still to be ironed out, but inclusion can only lead to uptick in trade. Using SA as springboard into rest of Africa is an attractive option for investors and would not be surprised to see initiatives developed by govt to encourage this. Ghana's first oil has been sold and economic and political stability persists. Trade with neighboring giant Nigeria is a key theme and Accra is an attractive city from which to do business with West Africa."
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 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
May ABCI Results Highlights:
Private sector business confidence index for the African continent
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 confidential 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