The Headline Sales Managers’ Index (see chart below) shows that over the past year, economic growth in the African continent has been very vigorous. •May data reflects rapid economic growth •The Confidence Index remains very high •Jobs growth continues to mirror market expansion Of the individual component Indexes that go to make up the headline Africa Index, the key Confidence in Future Business Conditions Index shows that sales managers continue to be remarkably optimistic. A Future Confidence Index value of 72.9 was recorded in May, and suggests that a large majority of African business people continue to believe conditions in the coming months are likely to remain extremely favourable for economic and business development. The Market Growth Index, (reflecting respondent’s views on the markets they are selling into) saw a May index reading of 61.4, indicating very rapid growth. The all-market Product Sales Index (reflecting respondent’s views on the performance of their own company rather than the market in which they work) registered 55.0, again indicating rapid growth. The Africa Staffing Index registered a level of 56.3, indicating that managers are expanding payrolls to meet new demand from the expanding marketplace. Overall the Sales Managers Indices for May continue to confirm Africa as one of the few current economic success stories of the world, with growth rates continuing at high but not out-of-control levels in many parts of the continent.

Note: An Index level of 50 reflections a static economy neither growing or declining. A level of 60 indicates rapid economic growth (see notes to editors)

    
    
    
For further information media & press enquires please contact: Ed Jones, Chief Executive T: +44 (0) 20 7326 8352 F: +44 (0) 20 7326 8351 E: [email protected] A PDF of this release is available here. For the full report, please click here. ENDS