Stanbic Bank Zambia has launched the Purchasing Managers’ Index (PMI), a monthly survey of business conditions prevailing in the country.
Zambia is among several sub-Saharan countries in which Stanbic will sponsor the development and delivery of the PMI. Other countries include Ghana, Nigeria, Kenya and Mozambique.
In Zambia, the index will be released for the first time in the first week of July 2017.
Stanbic is developing the index in partnership with a London-based company, IHS Markit, a leading firm in the provision of information and analysis to support the decision-making process of businesses and governments around the world.
Speaking at the launch, Richard Willis, the Director of Business Development/Economic Indices at IHS Markit, said the index, which will be released at the beginning of each month, will cover the whole economy.
Mr Willis said the index will show changes in the direction various sectors of the economy were moving on a monthly basis.
The PMI is calculated as a weighted average of various economic indicators with readings above 50.0 signalling an improvement in business conditions on the previous month, while readings below 50.0 show a Deterioration.
june 22, 2017