It would appear,” Rand Merchant Bank and Stellenbosch University’s Bureau for Economic Research noted, ever so softly, that “more and more business people participating in the BER’s survey are simply giving up hope.” And this was the less depressing of the two indices.
This is the lowest level since the 1998-1999 emerging-market debt crisis and comes after expectations that the level would remain unchanged at 28 points. Four out of the five sectors that make up the BCI deteriorated in the third quarter, with the one sector that was holding up, wholesale trade, joining the others on a downward trend. The only upward movement came from motor car retailers.
RMB chief economist Ettienne le Roux echoed the comments of several business people quoted recently, saying:To further delay growth-boosting reforms that should have been implemented years ago — such as easing of immigration regulations, cutting red tape, auctioning spectrum and simplifying visa regulations — will simply perpetuate this vicious cycle SA is currently in.Time is not on our side, especially now that the global headwinds the country is facing are becoming ever-fiercer.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: China Scraps Foreign Investment LimitsChina removed one more hurdle for foreign investment into its capital markets almost 20 years after it first allowed access.
Source: dailymaverick - 🏆 3. / 84 Read more »
Maverick Citizen: Global Strike Countdown: The climate crisis is everybody’s businessIf the people of planet Earth, including the inhabitants of SA, see fit to rise to the call of Greta Thunberg and young people across the world, the global ClimateStrike planned for 20 September 2019 will make history. The strike’s focus is the UN Climate Action Summit taking place in New York from 21-23 September. A global strike is a world first, its demands are simple: that governments and the private sector act NOW to drastically reduce carbon emissions.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK ANALYSIS: Emerging markets given a reprieve ahead of central bank meetingsEmerging markets, including South Africa, have been lifted by the tentative return of risk appetite to global financial markets. But much will depend on developed market central bank monetary policy moves over the next couple of weeks. With expectations high, they have a lot to deliver if they don’t want to disappoint.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK OP-ED: Outgoing European Central Bank chief’s dangerous farewellMario Draghi risks deepening the eurozone’s problems in the final weeks of his eight-year term as president of the European Central Bank. He has promised that the bank will reduce interest rates further to spur the eurozone economy. But policymakers have room for only modest rate cuts, which will do little to boost growth – and will put potentially intolerable pressure on the eurozone’s fragile banks.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: South Korea’s Unemployment Rate the Lowest Since 2013South Korea’s unemployment rate plummeted to the lowest level in nearly six years in August, a rare positive sign for an economy facing headwinds from weak global demand.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business confidence hits lowest in at least 20 yearsThe BCI has not been this low since the 1998-1999 emerging-market debt crisis
Source: BDliveSA - 🏆 12. / 63 Read more »