Africa’s business recovery falters as more economies contract

...five of eight major economies contract as inflation, external shocks bite

Africa's private-sector recovery is showing signs of strain as the number of major economies reporting business contractions more than doubled in three months, raising concerns that inflation, rising fuel costs, and renewed geopolitical tensions are beginning to undermine the continent's economic rebound. BusinessDay's analysis of the latest Purchasing Managers' Index (PMI) reports from eight African economies showed that five economies recorded contractio