By BUUMBA CHIMBULUZAMBIA’S business confidence has hit 19 months high as September manufacturing pulse expands.The country’s September manufacturing activity rebounded to positive territory as Covid-19 pandemic risks fade and positive sentiment rallied the Kwacha giving factory costs significant reprieve.This is according to Markit Economics latest Purchasing Managers Index (PMI) headline readings.The Markit Economics report highlights manufacturing and agriculture output increase offsetting a fall in services, construction, wholesale and retail faculties.Employment rose for the fourth month running as firms responded to higher new orders.Sentiment rose to a 19 month high as optimism supported by currency appreciation and improved business conditions persist. Purchase prices continue to ebb as selling prices eased ending a 13 month inflationary cycle.“Zambia’s September posture levitated to positive zone, rising to 50.3 from 49.8 in previous month as business conditions improve since April (50.1). 50 is the benchmark for expansion and contraction,” according to the report.The period August to September saw a post-election […]
Zambia’s business confidence hits 19 months high
