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2014/03/24

Six Secrets to Successful Interviewing

by Louise Kursmark


Your efforts have finally paid off—you’re scheduled to meet with an executive recruiter or hiring manager to discuss a job that’s a good fit for your experience, expertise, and career interests. Congratulations! But don’t relax yet. You can increase your chances of earning a second interview and, ultimately, a job offer by spending some time preparing for that interview.

Keep in mind, interviews are all about assessing the fit of your talents, knowledge, experience, strengths, leadership style, and much more with the specific opportunity and unique culture of the hiring organization. To succeed, you must demonstrate that you are a perfect fit in as many areas as possible.

Don’t spend your preparation time memorizing answers to questions you think you’ll hear—that approach will make you sound less than genuine and will leave you flat-footed when, inevitably, you’re asked a question for which you haven’t practiced an answer. Instead, invest your time working on six key areas of interview study that will leave you prepared for any question you’re asked and give you an edge over your competition.

1. Elucidate your core values.

What is the greatest value you offer? What makes you unique? What sets you apart from others? Spend some time thinking about these questions, then jot down five or ten core value statements—phrased in terms of value to the company. For example:

If your greatest strength is leadership, rather than stating “I have great leadership skills,” expand on that in a meaningful way: “I am able to deliver exceptional results—such as double-digit profit increases and 10% revenue growth in a down market—by inspiring and leading people to put forth extraordinary effort and do it with joy and passion.”

If your technical expertise is a great asset, bear in mind that knowledge and expertise in and of themselves are not valuable; it’s what you do with those assets that counts: “I’ve repeatedly gained competitive advantage for the company by introducing industry-leading technology that works right the first time and is consistently months or even years ahead of competitors.”

When choosing your core value statements, consider either of these simple formats to be sure you’re including both pieces—the skill or expertise and the benefit:

1) “I am able to [do something for the company] through [ability / expertise / knowledge / experience / talent].”

2) “I have [ability / expertise / knowledge / experience / talent] that results in [benefit to the company].”


These core value statements collectively paint the picture of “who you are,” so for the most part they will be consistent from interview to interview. But you can emphasize some over others, depending on the situation. For instance, if you’re a senior financial executive seeking either a CFO or CEO role, in interviews for financial positions you’d stress those core capabilities, while your big-picture executive talents will be more important in a CEO interview.

By crystallizing your value into half a dozen areas of strength, you create a template of the key points
to make during an interview—to be sure you’re clearly communicating the total picture of what you
have to offer.

2. Develop CAR stories.

The CAR (Challenge-Action-Result) story-telling format is highly effective in communicating concrete examples to support general statements. Rather than simply telling the interviewer that you have excellent communications skills, tell a CAR story that illustrates the point. When asked how you “would” handle a situation, present your theory, then back it up with a CAR story that drives home the point.

CAR stories provide insight into your leadership and problem-solving style and often elucidate the “how” behind the “what” that’s on your resume. Using this format, you’ll find that you can tell your story naturally, without sounding rehearsed, and will often be able to quickly call to mind a story that illustrates a key point in the interview, even if you haven’t prepared it in advance.

3. Bone up on “standard” questions.

Don’t talk yourself out of the position before you’re five minutes into the interview! There’s no excuse for “fluffing” such common interview questions as “tell me about yourself,” “why are you leaving your current position,” “why do you want to work here,” “what is your greatest weakness,” and so on. Bookstores and libraries abound with interviewing guides that present a long list of common questions and offer advice on how to answer them. When possible, incorporate one of your core value statements into your answer.

4. Prepare for different interview scenarios.

No longer are one-on-one interviews the only way candidates are assessed. Group interviews, role-play scenarios, behavioral interviews, problem-solving tests, and other methods are commonly used to find out as much as possible about you, your work style, how you handle stress, how you prioritize tasks, how you relate to teams, and other insights that are hard to convey on paper or in a simple Q&A interview. Be sure to ask the recruiter, HR person, or senior executive about what you can expect from the interview process. And make certain you’re at your physical best—well rested, well fed, well exercised—before a long, grueling day during which you’ll want to perform at your peak.

5. Do some homework.

You’ll give yourself a solid advantage in any interview if you take the time to research the company—its challenges, growth opportunities, recent news events, strategic growth plans—and the industry. Then use that information in your interview, relating your achievements and capabilities to the company’s current situation rather than simply stating them without context.


6. Prepare to overcome objections.

Seldom is a candidate a “perfect 10”—an exact match for everything the company’s looking for. Inevitably during an interview you’ll be asked about areas where your qualifications aren’t as strong as others’. Keep in mind, you can’t possibly know how important that trait is to the company, so don’t assume your honest answer will kill your candidacy. But do try to bring the discussion back to an area of strength, and if at all possible refer to one of your core values in addressing the issue. Here’s an example:

“You’re right, the largest organization I’ve headed was about 200 people. But if you look at all the areas where I was involved, I think you’ll agree it was kind of a microcosm of your current situation. I repeatedly was able to deliver results through a variety of leadership activities—restructuring the organization, developing leadership talent from within, communicating the vision, and in some cases leading the execution of key initiatives. I feel well prepared to perform in a larger environment, and I’m confident I’ll exceed your expectations through similar leadership activities—which really are all about getting the most from the people and resources of the organization, whatever its size.”

An interview is a high-stress activity where it’s crucial at perform your best. Preparation is key to peak performance in any endeavor. Don’t skimp on the preparation, and be sure to practice in the areas that will give you the greatest payoff.

_______________________________________

Louise Kursmark is an award-winning resume writer, president of Best Impression Career Services (www.yourbestimpression.com), and one of the most widely published authors in the careers field. Her 20 resume and career books can be purchased at online and traditional booksellers and directly from the author via this web page—http://www.yourbestimpression.com/books.html.
Louise works with executive job seekers to develop powerful resumes and related marketing documents and to craft efficient and effective job search strategies. She can be reached at 781-944-2471 or by email at LK@yourbestimpression.com..

2014/03/11

Worldwide Cost of Living 2014

Worldwide Cost of Living 2014

Dear Stefan,
 
Despite Abenomics driving consumer confidence and price inflation, a weaker yen has pushed Osaka and Tokyo away from the top of the cost of living ranking. This has paved the way for Singapore, which has been steadily moving up the ranking over the last decade, to claim the unenviable title of world’s most expensive city. Singapore’s rising price prominence has been steady rather than spectacular. The city-state was 18th most expensive ten years ago and has actually seen the cost of living compared with New York City decline over the last 12 months. However, over the last decade a 40% currency appreciation, coupled with solid price inflation, has consistently pushed Singapore up the ranking.
How do the remaining cities around the world rank in the latest Worldwide cost of living index?  Find out by downloading our free summary.

Get More Information


Kind regards,

Robert Ward
Editorial Director
The Economist Intelligence Unit
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2014/03/07

Autoshow in Geneva: Mercedes, Ferrari and Volvo implemented iOS in their vehicles

The following text is in German. For other languages translations, use your browser to help.
Apple hat heute am Internationalen Automobil-Salon in Genf CarPlay vorgestellt. Es dient der Integration von iPhone und iOS-Software im Auto.
Mercedes wird demnächst auch iOS-Software bietenБорис Ульзибат / Wikipedia CC 3.0
» Von pd/jst/awp, 03.03.2014 07:53. 
CarPlay bietet iPhone-Anwendern einen  Weg mit einem Wort oder einer Berührung Telefonanrufe zu tätigen, Karten zu nutzen, Musik zu hören und auf Nachrichten zuzugreifen. Anwender können CarPlay über die ursprüngliche Benutzeroberfläche des Autos steuern oder den Sprachsteuerungsknopf des Lenkrads gedrückt halten, um Siri zu aktivieren. Diese Woche wird CarPlay in Fahrzeugen von Ferrari, Mercedes-Benz und Volvo seine Premiere geben. Laut Apple werden weitere Automobilhersteller folgen, wie etwa BMW, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mitsubishi, Nissan, Peugeot, Citroën, Subaru, Suzuki und Toyota.
Und so soll es funktionieren: Sobald das iPhone über die CarPlay-Integration mit dem Fahrzeug verbunden ist, unterstützt Siri den Fahrer beim Zugriff auf Kontakte, bei Telefonanrufen, beim Rückruf von verpassten Anrufen oder dem Abhören von Sprachnachrichten. Wenn eingehende Nachrichten ankommen, bietet Siri die Möglichkeit die Anfragen über Sprachbefehle zu beantworten, in dem es die Nachrichten dem Fahrer vorliest, sich die Antworten diktieren lässt oder einen Rückruf ermöglicht.

Daneben sind die iOS-Karten und der zugehörige Routenplaner nutzbar. Schliesslich gibt CarPlay dem Fahrer Zugriff auf seine Musik, Podcasts und Hörbücher, entweder durch die im Auto eingebauten Steuerungsmöglichkeiten oder durch Anweisungen an Siri.
CarPlay soll im Laufe des Jahres in den ersten Autos besagter Hersteller auftauchen.

2014/03/01

DARPA hires Raytheon to work on Plan X cyber warfare platform


The Defense Advanced Research Projects Agency has awarded a $9.8 million contract to Raytheon as a part of its Plan X program, which is designed to plan for, conduct and assess cyber warfare in the same way that kinetic warfare is analyzed. Raytheon’s research and development will be contracted to enable scaling and execution of cyber operations for the Defense Department.
First announced in 2011, Plan X has connected cyber communities of interest from the commercial technology industry, user-experience experts, the defense industry and academia to create DOD’s foundational cyber warfare program, according to DARPA. While explicitly not funding research and development efforts in cyber warfare, the program seeks to create technologies for managing, planning and understanding cyber missions in dynamic network environments.
“The program covers largely unchartered territory as we attempt to formalize cyber mission command and control for the DOD,” Dan Roelker, DARPA program manager, said at the initial Proposers’ Day workshop in October 2012.
According to the Washington Post, one goal of Plan X is to create a program that will completely map out cyberspace and update itself as the Internet grows, giving commanders the ability to identify and attack targets. Another goal is the development of an operating system that is capable of both surviving counterattacks and launching its own offensives.
"When supporting our customers' missions, we can help assess the results of launching missiles or any weapons in other domains — land, air, sea or space," Jack Harrington, vice president of Cybersecurity and Special Missions for Raytheon Intelligence, Information and Services, said in an announcement by the company. "Raytheon is working to provide the same mission confidence to the cyber domain through our work with DARPA's Plan X."

2014/02/27

Opinion: Airbus Twin-Aisles—Big Needs, Limited Means

By Richard Aboulafia
Source: AWIN First
February 13, 2014
Airbus is at a crossroads. It needs to address its major twin-aisle product line disadvantage to Boeing, while simultaneously implementing organizational reforms that could leave the company with less cash for new product development.
The European jet maker faces three particular challenges. First, it must decide how best to compete with Boeing’s 787-8/9 for long, thin international routes. For years, Airbus has relied on its A350-800 to compete in this class, despite a widespread belief that this airplane would be too wide and heavy to compete with the 787. Yet, over the past year, the orderbook for this variant has fallen by about half. Last week, Aviation Week reported that International Lease Finance Corp. (ILFC) and Libyan Airlines had switched their combined 10 -800XWBs on order to the -900XWB model, dropping the total number of A350-800XWBs on order to 46.
The alternative is to develop a re-engined A330, which could carry on the A330’s profitable legacy. The problem with that approach is that it would cost more in non-recurring and ongoing overhead costs than simply offering one family of twin-aisle twinjets under the A350XWB range. Launching an “A330neo” would also produce a 2-3-year production downturn in Airbus’s most profitable program, as customers opted to wait for the re-engined A330. Given the weakness of the A350XWB-800 orderbook, Airbus may be facing a simple choice: Reengine the A330 despite the costs, or lose the 220-300-seat segment to Boeing.
Airbus’s second challenge is decide whether or not to rescue the A380. With new widebody engine technology arriving on the 787, A350XWB and 777X, the slightly older-generation engines on the A380 put it at a disadvantage, particularly since it has been plagued by a very high structural weight (on a per-seat basis). While Emirates continues to view the A380 as a mainstay of its fleet, there have been just 164 non-Emirates orders after 14 years on the market, and many of these have been filled. Airbus must decide whether it needs an “A380neo” to keep Emirates satisfied or should focus on expanding the A380 customer base beyond the current level.
Airbus’s third—and certainly largest—product-line challenge is to develop a response to Boeing’s 777-9X. With the A350XWB-1000 limited to 350 seats, it’s clear that Boeing’s 407-seat 777-9X will be the largest and most capable twinjet on the market. Here again, the limits of the A350XWB range are all too apparent. While a further stretch of the A350XWB fuselage is possible, it would need a new engine as well as wing and tail modifications. Even then, a notional “A350-1100” is not likely to match the 777-9X’s capabilities. An all-new big twin would be optimal, but quite expensive.
All of these challenges are emerging at a difficult moment in Airbus’s history. On the positive side, it is being reformed under CEO Tom Enders into more of a private-sector company, moving away from government ownership and influence. It’s becoming more like Boeing. Yet relying on private-sector investors necessitates a greater focus on providing returns—and more discipline in new product development spending. Late last year, Enders stated, “We’ll continue to focus on improving our profitability, our earnings, as well as our cash situation. . . . Why should we spend large amounts of money when we can make significant incremental improvements?”
Historically, Airbus has spent more than Boeing on development as a percent of sales than. But during the past 15 years, the bulk of this heavy spending was squandered on the A380. Today, development spending is set to fall in line with the company’s new direction. Last year, it fell below 6% for the first time since the company was established (see graph). Given the requirements of funding the A350XWB and A320neo, Airbus isn’t likely to have the resources to fund both an A330neo and A380neo and a new large twin, too. Tough choices will need to be made.
When these factors are taken into account, the market picture for the next decade or so becomes clear. Airbus may have a slight advantage in single aisles, but Boeing’s twin-aisle product line superiority implies a 55% market share by value across the board, assuming it can execute as planned on the 777X and 787-10. The odds are heavily against Airbus’s finding the resources to compete in the 360-450-seat twinjet segment for the next 10 years.
In short, Airbus will be paying the price for the A380 for many years to come.

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2013/10/24

EIU global forecast: Rich-world recovery

EIU global forecast: Rich-world recovery


EIU global forecast: Rich-world recovery

(Forecast closing date: October 14th 2013)
Despite a self-inflicted fiscal crisis in the US, continued austerity in Europe and relatively subdued momentum in China, global economic growth is poised to accelerate over the next 12 months. The euro zone is starting to sustain a weak recovery, and in 2014 the major developed markets will expand simultaneously for the first time in four years. However, political risk remains high in the US, and there is also a risk of severe disruption in emerging markets as US monetary policy shifts to a less accommodative path.
The Economist Intelligence Unit forecasts that global GDP at purchasing power parity exchange rates will grow by 3.6% in 2014. This is up from an estimated 2.8% in 2013, and largely reflects our positive expectations for the world's richest economies. We are raising our forecast this month for the euro zone in 2014, as the upturn seems to be spreading from stalwart Germany to France and even Italy. At the same time, we maintain our outlook for reasonably good growth in the US and Japan. The US government shutdown in October and the uncertainty caused by political wrangling over the "debt ceiling" are likely to reduce fourth-quarter GDP growth, but in many other respects the world's largest economy is performing well. Japan, meanwhile, is quietly benefiting from policy stimulus and improved sentiment, and even showing tentative signs of banishing deflation.
Our slightly more bullish view on the euro zone—we now expect GDP growth of 0.9% in 2014, compared with 0.7% in our previous forecast—does not alter our global forecast. But the improving outlook for the region marks a potentially significant transition. If our 2014 forecasts for the US, the euro zone and Japan all hold, these three economies will experience their first synchronised expansion since the 2010 bounce-back from the Great Recession. This should have positive spillover effects for the rest of the world. It will boost emerging markets' exports and prompt an influx of foreign investment as businesses in wealthy countries expand their footprints in the developing world. We forecast that outward investment by the US, the euro zone and Japan will climb by 10% in 2014, to about US$950bn.
These factors should offset some of the recent weakness in emerging markets, whose problems since May have been amplified by capital flight and currency depreciation. Investors' expectations of a scaling-back of the US Federal Reserve's quantitative easing (QE) programme prompted a major retreat from emerging-market risk in mid-year, although pressures have since eased. There are also signs that emerging markets have lost some of their dynamism of recent years. China's rates of GDP growth have slowed from their earlier stratospheric levels. Brazil is suffering from a combination of weak trading conditions, entrenched inflation and poor policymaking. Moreover, cyclical difficulties have highlighted fundamental problems in many countries, reflecting policymakers' earlier failures to implement structural reforms when their economies were more buoyant. While a number of emerging markets that slowed in either 2012 or 2013 will see growth pick up again in 2014, the once-popular idea that they could "decouple" from demand in the rich world was exaggerated.
Of the risks to global growth in the coming years, the most substantial remains the transition to less abundant liquidity. After pumping nearly US$3trn into the financial system in the past five years, the US Fed will soon reverse course. The US government shutdown has probably pushed back the date on which the Fed begins this process, but even if it holds off on "tapering" in December it is likely to start reducing its monthly asset purchases early in 2014. This would be a prelude to outright monetary tightening in the US and elsewhere over the next five years. An unwinding of liquidity is in many ways prudent and overdue, given signs that QE has contributed to asset-price bubbles. But it could spell turbulence for financial markets and emerging-market economies.
Recent events, unfortunately, have illustrated another way in which the US is a source of serious risk to the global economy. For several weeks, financial markets have lived with the possibility that partisan wrangling could prevent the US Congress from raising the federal borrowing limit or "debt ceiling", precipitating an unprecedented US sovereign default. Given the enormous size of the US Treasury market and its central role in the daily functioning of the global financial system, this would have been disastrous for the global economy. In the event—as we had predicted—on October 16th Congress passed a last-minute deal to end the government shutdown and authorise an increase in the debt ceiling that will cover the US government's costs for several months.
Developed world
Fiscal politics aside, the US economic recovery remains broadly on track, driven by consumer spending, exports and a pick-up in business investment. Real GDP grew by 2.5% at an annualised rate in the second quarter of 2013, up from 1.1% in the prior quarter. The housing market is recovering. However, job creation has slowed, and the recent jump in market interest rates will make borrowing costlier for consumers and businesses—acting as a brake on growth. We nonetheless expect real GDP growth of 2.6% in 2014, up from 1.6% this year.
Economic prospects in the euro zone are brightening, albeit from a miserably low starting-point. The currency union emerged from recession, after six consecutive quarters of contraction, in the second quarter of this year. The region's two largest economies, Germany and France, led the way but there were encouraging signs in Portugal, Spain and Italy. This suggests that the recovery—although tepid—is broadening. While we still expect real GDP to contract by 0.5% in 2013, growth will approach 1% next year, with the risks to this forecast on the upside.
Japan's economy continues to perform impressively, by its relatively sedate standards, aided by government spending, a resumption of QE and the weakening of the yen over the past year. GDP growth has slowed fractionally but business sentiment is at its highest level in almost six years. The sense that reflationary policies are having some traction is such that the prime minister, Shinzo Abe, is daring to go ahead with a politically risky hike in the consumption tax next April. The tax increase will temporarily depress demand in the second quarter of 2014, but the government has promised to offset this with additional stimulus. We forecast GDP growth of 1.7% in 2014, down slightly from 1.9% this year.
Emerging markets
Financial tensions have eased in recent weeks, and an upturn in the global economic cycle should boost performances in many major emerging markets next year. China is a notable exception. GDP data for the third quarter, due out on October 18th, will give a clearer idea of momentum, but for now the picture is pretty flat and we expect a slight downturn in growth in 2014, to 7.3% from 7.5% this year. The country's long-term shift towards slower, less investment-driven growth is also increasingly being felt. India, meanwhile, has seen its economic situation deteriorate considerably since May. Growth slumped to a four-year low in the April-June quarter, but the immediate sense of crisis in the economy—triggered by capital flight and a collapse in the rupee—has eased. A new central bank governor has moved to restore calm and the currency has rebounded from historic lows. A good monsoon will help GDP growth to recover to 5% in fiscal year 2013/14. However, the prospect of India sustaining 7 per cent‑plus growth over the next few years, which had appeared realistic until recently, no longer looks achievable.
Eastern Europe has felt the effects of the recession and debt crisis in the euro zone acutely, but it is now beginning to benefit from the weak upturn in its neighbour. The Czech Republic has returned to quarter-on-quarter growth after contracting for six quarters in a row. Poland's GDP also expanded in April-June, buoyed by exports. Russia has weaker links to western Europe and has continued to struggle, but a bumper harvest will boost the economy in the second half of 2013. Russian growth will pick up to 3.3% in 2014. Likewise, regional growth will accelerate next year, helped by stronger demand in the euro zone.
Latin America has endured a difficult first half to the year as countries that had previously proven resilient in the face of less favourable global conditions slowed appreciably. As elsewhere, the region has been affected by the retreat from emerging-market assets since May, prompting currency depreciation that has been only partly reversed. However, fears that this could generate serious inflationary pressures have proven unfounded so far. We expect regional GDP growth of 2.6% this year, picking up to 3.3% in 2014 as the global economy improves.
Political instability is hampering economic prospects in the Middle East and North Africa. Egypt remains under a state of emergency following the ousting of its democratically elected president, Mohammed Morsi, in July. Syria's economy has all but collapsed as civilians have fled the civil war and oil production has plummeted. Regional growth will recover to 4% in 2014, with prospects over the next few years boosted by infrastructure projects in the Gulf states. In Sub-Saharan Africa, growth will pick up from 3.7% in 2013 to almost 5% by 2015 as the global economy improves and as investment in oil and mining bears fruit.
Exchange rates
Many of the emerging-market currencies that depreciated sharply against the US dollar during the summer have regained ground in recent weeks, although most are still below pre-May levels. Brazil's Real, which fell by as much as 18% against the US dollar from early May to mid-August, has appreciated by about 12% since then. Market interest rates will continue to edge higher in the US in 2014, putting pressure on emerging-market currencies. The fact that US monetary policy is moving out of its ultra-loose posture also has implications for the major currency pairs. Over time the US dollar should rise against both the euro and the yen as interest-rate differentials widen. We forecast that the dollar will average US$1.28 against the euro in 2014, up from US$1.32 this year.
Commodities
Commodity markets have been weak since early 2013, reflecting concerns about the economic slowdown in China and the prospect of a pullback in the US Fed's QE programme (liquidity from which is widely thought to have boosted commodity markets). Industrial raw materials prices should stabilise in the final months of 2013 in anticipation of modestly stronger demand. Agricultural commodity prices are less likely to make gains given the improving supply picture. We expect the supply of crude oil to pick up in the final quarter of this year, suggesting that the market will be amply supplied moving into 2014. Political risk has kept oil prices higher than supply/demand fundamentals would suggest. Unless new geopolitical crises emerge, we expect a modest easing of prices from an average of US$108.5/barrel (dated Brent blend) in 2013 to just under US$105/b in 2014.
World economy: Forecast summary
 2009201020112012201320142015201620172018
Real GDP growth (%)          
World (PPP exchange rates)a  -0.85.03.82.92.83.63.83.93.93.9
World (market exchange rates)-2.33.92.62.22.02.72.82.82.82.8
  US-2.82.51.82.81.62.62.32.52.32.4
  Japan-5.54.7-0.62.01.91.71.71.11.11.2
  Euro area-4.41.91.6-0.6-0.50.91.31.41.31.5
  China9.210.49.37.77.57.37.06.96.35.9
  Eastern Europe-5.63.53.92.11.72.93.63.94.24.3
  Asia & Australasia (excl Japan)5.18.56.55.35.55.75.85.75.65.6
  Latin America-1.95.94.33.02.63.33.53.83.83.8
  Middle East & North Africa1.95.22.53.92.84.04.44.74.95.0
  Sub-Saharan Africab1.34.64.64.13.74.54.95.45.76.0
World inflation (%; av)1.53.04.23.43.23.53.53.53.53.5
World trade growth (%)-11.714.06.32.43.35.25.05.35.35.4
Commodity prices         
  Oil (US$/barrel; Brent)61.979.6110.9112.0108.5104.8107.3103.897.593.0
  Industrial raw materials (US$; % change)-25.644.821.7-20.3-5.45.12.51.82.51.3
  Food, feedstuffs & beverages (US$; % change)-20.310.730.1-3.5-7.8-6.4-1.5-1.83.72.4
Exchange rates (annual av)
  ¥:US$93.687.879.879.897.4101.2103.0102.0101.0100.0
  US$:€1.391.331.391.291.321.281.261.261.271.27
a PPP = purchasing power parity    b  Refers to Angola, Kenya, Nigeria and South Africa only.
Source: The Economist Intelligence Unit.