South Africa Business Confidence Weakens In Q2

(RTTNews) - Business sentiment in South Africa deteriorated in the second quarter, which was the first erosion in confidence in a year, survey data from the Bureau of Economic Research showed on Wednesday.

The RMB/BER Business Confidence Index fell to 40 from 45 in the first quarter. The decline came as the recovery that started in the first half of 2024 stalled in the first quarter, the think tank said.

"This implies that only four out of ten business respondents in the most cyclically sensitive sectors of the economy were satisfied with prevailing business conditions," the BER added.

Elsewhere on Wednesday, survey results from S&P Global showed that South Africa's private sector grew for the first time in six months in May as output logged the quickest growth in four years. The survey found that firms remained confident about business activity over the next twelve months.