June 23, 2021

South Africa Business Confidence at 3-Year High in May

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South African business confidence jumped to levels last seen even before a nationwide lockdown to curb the spread of the coronavirus restricted economic activity and disrupted global trade, two separate measures published on Wednesday showed.

A quarterly business confidence index compiled by FirstRand Ltd.’s Rand Merchant Bank unit and Stellenbosch University’s Bureau for Economic Research jumped to 50 in the second quarter, from 35 the previous three months. That’s the highest since the end of 2014 and was fueled by sharp rebounds in sentiment in the manufacturing, retail trade and motor trade industries.

Click here to see a table with the breakdown of the quarterly business confidence index