The April ABCI results indicate confidence and growth with an index of 54.7 and 56.0 for the manufacturing and non-manufacturing sectors respectively. A level of 50 and above indicates expansion. Business professionals from more than 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.
 
“Although results for the April business confidence index in Africa show a minor decline, the overall trend of private sector confidence in Africa remains positive. The lower numbers for April’s index  could reflect turmoil in Nigeria and Ivory Coast as well as lower prices for food commodities. However, the index also reflects confidence of the private sector in Africa’s continued economic growth.” says John Ngumi , Director Investment Banking Coverage, Corporate and Investment Banking of Stanbic Bank in East 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.