South Africa’s business confidence worsened in the three months ended September to the lowest level in nearly four years, survey figures from the Rand Merchant Bank and the Bureau of Economic Research showed Tuesday.
The RMB/BER Business Confidence Index, or BCI, fell to 38.0 in the third quarter from 43.0 in the previous quarter. In the first quarter, the reading was 49.0.
The latest score was the lowest since the fourth quarter 2011, when it marked the same 38.0.
The survey was conducted through August and covered 2000 firms in the building, manufacturing, retail, wholesale and motor trade sectors.
Confidence in the retail sector fell sharply in the three-month period to September. The corresponding index dropped to 34.0 from 52.0 in the previous quarter. Similarly, wholesale confidence declined notably to 50 from 64.
Data also showed that building confidence declined somewhat, but the mood among manufacturers and new motor dealers improved slightly from depressed levels.
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