Business confidence has pulled back. The RMB/BER morale indicator declined to 42 in the first quarter, marking a level last seen in the second half of 2021.
The performance was largely driven by a fall in manufacturing confidence due to the impact of the floods in KwaZulu-Natal and load-shedding. Business Day TV spoke to Ettienne le Roux, chief economist at RMB for his analysis of the print.
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