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BER Business Confidence Remains Weak into Q4

SOUTH AFRICA
MNI (London)

SOUTH AFRICA Q42022 BER BUSINESS CONFIDENCE 38, Q32022 39

  • South African business confidence declined for the third consecutive quarter in Q3, edging down one point to a pessimistic 38. Sentiment has remained largely below the breakeven mark of 50 since 2007.
  • Stark divergence was recorded between sectors. Construction rebounded on the back of strong residential investment and services signalled an ongoing recovery in tourism and hospitality.
  • Falling consumer propensity to buy drove a decline in wholesale and retail confidence, and manufacturing confidence remained severely depressed due to weak export orders and load-shedding strains.
  • Electricity shortages, issues at ports and the railway networks are dragging on growth, leaving Q3 and Q4 GDP likely to contract on the quarter.

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