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The Sales Managers Index: Africa

Released: September 28 , 2015

Pan-African economic activity weathers the global storm,
rising to a 31 month high in September

  • Nigeria and Egypt see fastest economic growth
  • Strong sales underpin future business confidence
  • Prices charged continue to rise at a strong pace

At 60.5 in September, up from 60.2 in August – the World Economics Africa Headline Sales Managers’ Index (SMI) – signalled a further improvement in business conditions across the African continent, with the latest reading accelerating to the fastest pace since March 2013. Among the big-four economies of the countries surveyed, Nigeria continued to post the highest reading (66.1), followed by Egypt (60.0), Algeria (53.4) and South Africa (54.6). However, even though overall operating conditions were favourable in all these countries, a number of panel members expressed concerns about falling energy prices, security issues, and power outages.

Sector analysis showed that the African Manufacturing SMI rose again in September to reach a value of 58.5 while the Services SMI slowed to 61.0, after rising by 1.5 on the previous month. These index values pointed to solid rates of activity in both sectors and suggested that the services sector remained the main force behind the overall economic growth in the region.

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