SA business confidence falls to almost two-year low

Lew Skannen

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South African business confidence fell to the lowest level in almost two years in the first quarter, with more than two thirds of respondents dissatisfied with current conditions.

A gauge measuring sentiment declined to 28 in the first quarter from 31 in the final three months of 2018, FirstRand's Rand Merchant Bank unit and the University of Stellenbosch’s Bureau for Economic Research said in a statement Wednesday.

The median estimate of four economists in a Bloomberg survey was 32.

Key Insights

Confidence in the retail industry is at the lowest since the end of 2013. Sentiment among retailers and builders fell the most, with the latter reflecting a dearth of new work, the survey showed.

Confidence levels in four of the five sectors covered in the index fell.

President Cyril Ramaphosa’s rise to power boosted business confidence in early 2018 but sentiment has slumped as trading conditions remain depressed. While his efforts to expose corruption, rebuild institutions and bolster investment will bear fruit in the longer term, “forceful, and in some instances, unpopular structural reforms must also form part of the mix,” said Ettienne le Roux, the chief economist at RMB.
https://www.fin24.com/Economy/sa-business-confidence-falls-to-almost-two-year-low-20190313
 

Lew Skannen

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All the countries you are refering to have the means to self-correct and turn their economy around. South Africa, with the ANC and political turmoil, investors fleeing, RB about to be nationalized, EWC, and much more - not so much.
 

eg2505

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more doom and gloom, but he is right in what he is saying.
 

vigras rojara

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All the countries you are refering to have the means to self-correct and turn their economy around. South Africa, with the ANC and political turmoil, investors fleeing, RB about to be nationalized, EWC, and much more - not so much.
Yes Nostradamus. *Yawns*
 

ForceFate

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All the countries you are refering to have the means to self-correct and turn their economy around. South Africa, with the ANC and political turmoil, investors fleeing, RB about to be nationalized, EWC, and much more - not so much.
"All time low" would give me sleepless nights. Period before elections is normally accompanied by political uncertainty. Things usually pick up afterwards and life goes on.
 

Lew Skannen

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"All time low" would give me sleepless nights. Period before elections is normally accompanied by political uncertainty. Things usually pick up afterwards and life goes on.
Again, something that sets SA apart from all other countries.... we have a collapsing economy. We have investors fleeing en masse, the biggest outflow of foreign investments in South Africa's history. Then there are the unanswered few points that still needs to be addresses after the elections, any of which could and probably will collapse the economy - NHI, EWC, Nationalizing SARB.
 
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