Load shedding and failing rail, road, and port infrastructure has hit South Africa’s business confidence hard, with optimism nosediving in the manufacturing and consumer-facing retail sectors.
“Pervasive power outages coupled with deteriorating household income knocked manufacturing and retailer confidence hard. By contrast, sentiment among wholesalers and new vehicle dealers improved slightly,” said the BER. However, the bureau noted that a thin silver lining attached to load-shedding must not distract from the devastating blow load-shedding specifically and failing rail, road, and port infrastructure, more generally, are inflicting on the economy.
The overall sentiments for South Africa’s business sectors, as outlined by the BER, are listed below.Confidence crashed by nine points to 17 in the first quarter. A level this low is rare, and it speaks to a sector that is bearing the brunt of the combined impact of intense load shedding and dilapidated logistic infrastructure, said the BER.
This comes at a time when high consumer price inflation and slowing growth in compensation continue to place pressure on household disposable income, said the BER.
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