Business Confidence In South Africa Fell To Its Lowest Level Ever Recorded
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Mpho Molopyane , Rmb Sa Economist talks about In the second quarter of this year, Business Confidence In South Africa Fell To Its Lowest Level Ever Recorded on the RMB/BER Business Confidence Index, which started in 1975.
The previous lows were registered during the third quarter of 1985 and the fourth quarter of 1977 due to political developments in South Africa. About 1 800 executives surveyed across the building, manufacturing and the domestic trade sectors - including retail, wholesale and the motor trade - are very pessimistic about business conditions ahead as the South African continues to recover from the Covid-19 pandemic. The SA economy was still in lockdown 4 during most of this period (April and May), with many businesses prohibited from operating or only able to operate on a limited scale due to only "essential" goods and services being allowed. On 1 June the country moved to the less restrictive lockdown level 3.
The previous lows were registered during the third quarter of 1985 and the fourth quarter of 1977 due to political developments in South Africa. About 1 800 executives surveyed across the building, manufacturing and the domestic trade sectors - including retail, wholesale and the motor trade - are very pessimistic about business conditions ahead as the South African continues to recover from the Covid-19 pandemic. The SA economy was still in lockdown 4 during most of this period (April and May), with many businesses prohibited from operating or only able to operate on a limited scale due to only "essential" goods and services being allowed. On 1 June the country moved to the less restrictive lockdown level 3.
