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SA business confidence on the up after 2 years of decline

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The survey comes after the IMF's warning on the country's fiscal position and ratings agency S&P Global downgrading its outlook to negative.

JOHANNESBURG - A survey has found that South Africa's business confidence improved for the first time in two years.

The Rand Merchant Bank Business Confidence Index - compiled by the Bureau for Economic Research - was at 26 points for the fourth quarter. This is a substantial increase from the third quarter, when the BCI hit a two-decade low of 21 points. Retail, manufacturing and building confidence all rose, with confidence in the wholesale sector unchanged, and that of the new motor vehicle sector lower.

According to the survey, 74% of businesses surveyed stated they were currently dissatisfied with business conditions, versus 79% in third quarter.The improvement in business confidence is therefore welcome.

 

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