The RMB/BER Business Confidence Index lost a bit of ground in the fourth quarter (Q4), led by a startling slide in the sentiment of new vehicle dealers. When South Africans stop buying new cars, you know the economy has taken a turn down a potholed road. The RMB/BER Business Confidence Index edged deeper into negative territory, slipping to 31 in Q4 from 33 the previous quarter. That means more than two-thirds of those surveyed were dissatisfied with prevailing business conditions.
Still, it held up fairly well in the face of the swelling crisis at South Africa’s ports, the persistence of rolling blackouts, and an array of indicators pointing to an economy that is slowing and may have fallen into a contractio
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