NEWS RELEASE: MARKET SENSITIVE DATA th EMBARGOED, 17 October 09:00 EST

The Africa Index continues to report robust market growth throughout the continent.
The Africa Index is by far the most up to date assessment of economic activity in Africa, and provides the only monthly data covering all sectors of the African economy. The Index shows economic activity in the continent is growing rapidly. The headline Africa Index recorded a reading of 60.1 a figure well above the 50 no change level, and up from last months 59.9. This is indicative of rapid economic growth. 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 73.6 was recorded in October suggesting that African businesspeople believe conditions in the coming months are likely to remain very favourable for economic and business development. The Market Growth Index, (reflecting respondents views on the markets they are selling into) saw an October index value of 63.0, suggesting market growth of a slightly higher level than seen in the previous month. The all-market Product Sales Index (reflecting respondents views on the performance of their own company rather than the market in which they work) registered a strong increase in the level of activity in October after a drop last month. The Africa Staffing Index, reaching a level of 56.5, suggests widespread recruitment, as would be expected with strong market growth and high levels of optimism that the next few months will be favourable. Finally, the Africa Price Index for August reflects the success of sales managers in implementing price increases. The current reading of 55.1 suggests prices are rising at much the same rate as in previous months. Overall the Sales Managers Indices suggest Africa continues to be one of the few current economic success stories of the world, with growth rates at high but not out-of-control levels throughout the continent.

Africa All Sectors Headline Sales Managers' Index

85.0 80.0 75.0 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12
Decline Growth

Source: World Economics

100 90 80 70 60 50 40 30 20 10 0

% Replies this month

85.0 80.0 75.0 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0 Sales Same Prices Down Staffing

Confidence In Future Business Conditions

Growth

Decline

Confidence

Market Growth Up

Source: World Economics

Source: World Economics

85.0 80.0 75.0 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0

General Market Growth

Growth

Decline

85.0 80.0 75.0 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0

Product Sales Growth

Growth

Decline

Source: World Economics

Source: World Economics

85.0 80.0 75.0 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0

Prices Charged
Growth

Decline

85.0 80.0 75.0 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0

Staffing Levels
Growth

Decline

Source: World Economics

Source: World Economics

Notes to Editors

The Sales Managers Index is produced by World Economics and is based on original survey data collected from a panel of African Sales managers in all sectors of the African economy except those controlled by the Government. About the Sales Managers Index The Africa Sales Managers Index is a new product designed to raise the voice and profile of salespeople throughout the world. The Index provides the earliest indication each and every month of the direction of the economy, and the speed at which its markets are growing. Sales Managers are unique as an occupational group in being really at the front line of economic activity. The Sales Manager is ideally placed to feel the first few whispers of caution in the market or to see the new green shoots of economic recovery. The Sales Managers Index brings together the collective wisdom of Sales Managers and consequently produces the best and earliest source of understanding about whats really happening in the African economy. The Sales Managers Index has been developed by World Economics, a leading edge provider of original economic data. Sister products include the World Economics Journal, the World Price Index, the Global Marketing Index, as well as the China, India and Eurozone Growth Monitors.

About World Economics World Economics is an organisation dedicated to producing analysis, insight and data relating to questions of importance in understanding the world economy. Currently our primary research objective is to encourage and assist the development of better and faster measures of economic activity. In cases where we believe we can contribute directly, as opposed to through highlighting the work of others, we are producing our own measures of economic activity. Our work is mainly of interest to investors, organisations and individuals in the financial sector and to significant corporations with global operations, as well as governments and academic economists http://www.worldeconomics.com