The latest RMB/BER Business Confidence Index has reached its best level since Q4 2022.
South African businesses are cautiously optimistic about business conditions, but over 60% are still not satisfied with the prevailing business conditions.
“However, despite the big surge, the sector remains the most pessimistic with less than three in ten respondents satisfied with prevailing business conditions.” Wholesalers of non-consumer goods, however, saw consumer goods reported that their sales performed better compared to Q2 2024, with volumes in line with the long-term average reading.
Although the current level is roughly in line with the confidence readings seen in 2023, a recent trend of outperformance by the non-residential sector continued in Q3, with the residential sector under significant pressure.
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