Zambia Pmi Composite

The Stanbic Bank Zambia PMI fell to 48.3 in August 2024, down from 49.4 in July, thus extending the current sequence of downturn to nine months. There was a renewed decline in new orders, albeit modestly, attributed to a reduction in purchasing power at customers, load shedding and higher costs. This led to a further drop in output, although the pace of contraction overall eased to a three-month low. In the meantime, employment decreased but backlogs continue to rise. On the price front, both purchase and staff costs rose further in August, but the rates of increase softened to the slowest in four and five months, respectively. At the same time, firms raised their selling prices at the weakest pace in four months. Finally, firms remained upbeat regarding the outlook for output over the coming year in August, but the degree of optimism slipped for the third month running and was weaker than the series average.