SA business outlook rose on expectations of a coalition government

South African companies’ confidence in the economy improved before last week’s election on expectations that results would produce a coalition government. The Business Confidence Index rose to 35 in the second quarter from 30 in the prior three-month period, according to a report compiled by Rand Merchant Bank and Stellenbosch University’s Bureau for Economic Research.

Business confidence ahead of the election showed a welcome up-tick, but remained below the levels conducive to foster increased private sector investment and faster economic growth,” said Isaah Mhlanga, chief economist and head of research at RMB. “Lower inflation through the remainder of the year, and the possibility of a somewhat lower policy interest rate later in the year could boost consumer spending.

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