Zimpapers Logo

The Confederation of Zimbabwe Industries (CZI) says it has developed a quarterly business confidence index (QBCI) to enhance its engagement with stakeholders.

The index, which is based on the Japanese Tankan Sentiment Index, is used by many countries to establish similar indicators output of the activity.

It was designed with technical input and financial assistance of the International Trade Centre (ITC).

“The designed QBCI index will include a Purchasing Manager’s Index, based on the methodological approach of the Markit Group,” the CZI said.

“This conducts performance management indicators for over 30 countries worldwide and the Institute for Supply Management for the United States since 1948,” it said in a statement.

The index will assist in facilitating the implementation of sound national policies that will unlock and deliver sustainable growth of the manufacturing sector.

The quarterly business confidence index will complement the annual CZI manufacturing survey as an industry monitoring tool. — New Ziana.