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The Sales Managers Index: Africa

Released: June 21, 2016


Africa’s Economic Growth Slows Sharply in June

  • Major economies of Nigeria and South Africa flirt with recession
  • Pan-African economy faces economic contraction
  • Price inflation remains high and rising

The World Economics Headline Sales Managers’ Index (SMI) for Africa – a composite indicator providing the most up-to-date monthly assessment of economic activity in the region – fell to 51.1 in June from 52.9 in May. The Pan-African Sales Index has been below the 50.0 no change level for three consecutive months indicating economic contraction during Q2. The continents largest economies of South Africa, Egypt and Nigeria are all experiencing continued difficulties. The Nigerian economy is now in recession with two consecutive quarters of contraction and South Africa based Stats SA has already published negative growth also for Q1. Egypt continued to experience a slowdown in economic activity in June, struggling from a drop in tourism and low oil prices.



Headline Sales Managers' Index




Sales Managers' Index Trends
  Speed Direction
SMI Very slow Growth
Business Confidence Fast Growth
Market Growth Slow Decline
Sales Output Faster Decline
Prices Charged Medium Growth
Staffing Levels Slow Decline











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The Sales Managers Index provide the earliest monthly data on the speed and direction of Pan-African economic activity.

Key advantages of the Pan-Africa SMI:
  • The SMI provides the first indication each month of the speed and direction of economic growth in Africa.
  • The SMI provides the most complete indication of growth, covering all private sector activity.
  • The SMI is based on a key occupational group - uniquely able to sense changes in business activity levels.
  • The SMI is composite index of business confidence, market growth, sales, prices charged and staffing levels.
  • The SMI is a diffusion index, any index value above 50 indicates growth and below 50 indicates contraction.






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