Business Confidence Index declines for a 5th consecutive quarter.
Loading player...
GUEST – Isaah Mhlanga - RMB chief economist
The RMB/BER Business Confidence Index declined for a fifth consecutive quarter in the second quarter of 2023, down nine points from the first quarter to 27 points – the lowest level of confidence since 2020. This suggests that only roughly a quarter of respondents are satisfied with prevailing business conditions. The decline in confidence was on the back of another decrease in business activity, although this likely does not explain the full extent of the deterioration in sentiment. A challenging business environment amid, among other factors, persistent load shedding, rising interest rates and cost pressures weighing on profitability also affected confidence.
The RMB/BER Business Confidence Index declined for a fifth consecutive quarter in the second quarter of 2023, down nine points from the first quarter to 27 points – the lowest level of confidence since 2020. This suggests that only roughly a quarter of respondents are satisfied with prevailing business conditions. The decline in confidence was on the back of another decrease in business activity, although this likely does not explain the full extent of the deterioration in sentiment. A challenging business environment amid, among other factors, persistent load shedding, rising interest rates and cost pressures weighing on profitability also affected confidence.
