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Financial News: South Africa Business Confidence Tumbles In Q2

South Africa Business Confidence Tumbles In Q2

06/14/2017 - 07:10:00 (RTTNews)

(RTTNews) - South Africa's business confidence dropped sharply in the second quarter after a modest increase in the first three months of the year, as the economy entered its first recession since 2009 and political upheavals attracted credit rating downgrade, results of a survey by the Bureau of Economic Research and the Rand Merchant Bank showed Wednesday.

The RMB/BER Business Confidence Index shed 11 points to 29 in the second quarter. The index added a modest two points in the first quarter.

The measure has been below the neutral 50 mark for more than two years.

Confidence declined across all of the five sectors surveyed and might signal that the current business cycle downswing is becoming even more pronounced.

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