Business

Business conditions on recovery path

KALONDE NYATI, Lusaka
BUSINESS conditions have shown signs of recovery as evidenced by Purchasing Managers’ Index (PMI), which improved to 48.9, up from 46.6 in September.
This is the highest in the current 20-month sequence of sub-50 readings.
Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
The latest Stanbic Bank Zambia and IHS Markit PMI reveal that the private sector neared stabilisation last month as business conditions across the economy showed signs of improvement following the outbreak of coronavirus.
“The headline PMI improved to 48.9 in October, up from 46.6 in September and the highest in the current 20-month sequence of sub-50 readings. That said, the index still signaled a modest deterioration in private sector operating conditions,” the report states.
And Stanbic Bank Zambia economist Dean Onyambu said lower reductions in both backlogs of work and CLICK TO READ MORE



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