Analysis by Region - Africa
Available data indicates that economic momentum slowed in Q1 2024. However, despite a brief dip into contractionary territory in March, the PMI still signals growth in the economy's agricultural, construction, wholesale & retail, industrial, and services sectors over the next 12 months. Fixed investments in the oil sector will likely lead to positive spillover benefits by supporting growth in complementary industries. At the same time, corporate credit uptake has averaged around 5% y/y since the start of the year, supporting investments in the mining, construction, trade, and agricultural sectors.
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