The RMB/BER business confidence index in South Africa rose to 47 in Q1 2026, the highest since Q2 2021, from 44 in the previous quarter. The survey revealed that sentiment improved amid a stable government, supportive interest rate environment and favorable exchange rate movements, despite geopolitical concerns. "A sustained improvement in confidence will ultimately depend on stronger demand, continued policy credibility and progress on structural reforms. For now, sentiment is improving but translating that into durable growth remains the key test for 2026," said Isaah Mhlanga, chief economist at RMB. source: Bureau for Economic Research (BER)

Business Confidence in South Africa increased to 47 points in the first quarter of 2026 from 44 points in the fourth quarter of 2025. Business Confidence in South Africa averaged 42.59 points from 1975 until 2026, reaching an all time high of 92.00 points in the third quarter of 1980 and a record low of 5.00 points in the second quarter of 2020. This page provides - South Africa Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

Business Confidence in South Africa increased to 47 points in the first quarter of 2026 from 44 points in the fourth quarter of 2025. Business Confidence in South Africa is expected to be 35.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Business Confidence is projected to trend around 42.00 points in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-03 10:00 AM
Business Confidence
Q4 44 39 37
2026-03-04 10:00 AM
Business Confidence
Q1 47 44 35
2026-06-04 10:00 AM
Business Confidence
Q2 47 38


Related Last Previous Unit Reference
Bankruptcies 96.00 100.00 Companies Jan 2026
Business Confidence 47.00 44.00 points Mar 2026
Capacity Utilization 77.80 78.30 percent Sep 2025
Car Registrations 37190.00 35579.00 Units Jan 2026
Changes in Inventories 25742.00 18711.00 ZAR Million Sep 2025
SACCI Business Confidence 131.40 133.20 points Jan 2026
Composite Leading Indicator 101.22 101.11 points Jan 2026
Corruption Index 41.00 41.00 Points Dec 2025
Corruption Rank 81.00 82.00 Dec 2025
Electricity Production 17477.00 18325.00 Gigawatt-hour Dec 2025
Gold Production YoY 1.10 -6.00 percent Dec 2025
Manufacturing Production YoY -1.40 -2.00 percent Dec 2025
Manufacturing Production MoM -1.20 -2.10 percent Dec 2025
Leading Business Cycle Indicator MoM -1.00 1.40 percent Dec 2025
Mining Production YoY 2.50 -2.40 percent Dec 2025
Total New Vehicle Sales 53460.00 50520.00 Units Feb 2026


South Africa Business Confidence
In South Africa, the BER Business Confidence Index covers 1,400 business people in the building sector, 1,400 in the trade sector and 1,000 in manufacturing. The survey assesses the level of optimism that senior executives in the companies have about current and expected developments regarding sales, orders, employment, inventories and selling prices. The index varies on a scale of 0 to 100, where 0 indicates an extreme lack of confidence, 50 neutrality and 100 extreme confidence.
Actual Previous Highest Lowest Dates Unit Frequency
47.00 44.00 92.00 5.00 1975 - 2026 points Quarterly

News Stream
South Africa Business Sentiment Hits Near 5-Year High
The RMB/BER business confidence index in South Africa rose to 47 in Q1 2026, the highest since Q2 2021, from 44 in the previous quarter. The survey revealed that sentiment improved amid a stable government, supportive interest rate environment and favorable exchange rate movements, despite geopolitical concerns. "A sustained improvement in confidence will ultimately depend on stronger demand, continued policy credibility and progress on structural reforms. For now, sentiment is improving but translating that into durable growth remains the key test for 2026," said Isaah Mhlanga, chief economist at RMB.
2026-03-04
South Africa Business Sentiment Improves in Q4
The RMB/BER business confidence index in South Africa rose to 44 in Q4 2025 from a one-year low of 39 in the previous quarter, marking the first improvement after two consecutive declines. The index is now three points above its long-term average. Increases were seen across five sectors. Building contractors were the only sector to see a drop in confidence, falling seven points to 39, yet activity improved, indicating the sector’s ongoing recovery. "Business confidence will need steady policy progress and consistent demand to take root and grow," RMB stressed in a statement.
2025-12-03
South Africa Business Sentiment Hits 1-Year Low in Q3
The RMB/BER business confidence index in South Africa eased further to 39 in Q3 2025, the lowest since Q3 2024, from 40 in the prior period. This is three points below the long-term average level of 42, mainly reflecting concerns over the impact of US tariffs. On 7 August, US President Donald Trump imposed tariffs after a three-month pause, leaving South African businesses facing the reality of an unfavorable trade deal. “Front-loading, cancellations and production holidays in the automotive sector, for example, also affected activity over the period,” said Isaah Mhlanga, Chief Economist at RMB. Among all sectors, manufacturing recorded the lowest sentiment, with its gauge falling 10 points to 23 amid ongoing global trade uncertainty. The retailers index dropped 10 points to 32, and the wholesalers gauge declined 12 points to 38, while two sectors – building contractors and new vehicle dealers – saw their confidence improve from weaker second-quarter readings.
2025-09-03