The RMB/BER business confidence index in South Africa fell to 42 in the second quarter of 2022 from 46 in the previous period, reaching the lowest since the first quarter of 2021. The deterioration in business sentiment was mainly felt by manufacturers and new vehicle dealers due to ongoing supply chain shortages and the temporary closure of the Toyota plant in the east coast city of Durban because of flooding. Meanwhile, building contractors turned decisively more upbeat. Confidence among retailers and wholesalers remained largely unchanged at a relatively high level. "Although the impact some of these shocks has had on the BCI is wearing off, there is plenty for businesspeople to still be anxious about," RMB chief economist Ettienne Le Roux said. South African business confidence has been stuck in the low 40s since mid-2021 due a string of shocks ranging from labour strikes and massive electricity shortages to war and floods. source: Bureau for Economic Research (BER)
Business Confidence in South Africa averaged 42.96 points from 1975 until 2022, reaching an all time high of 92 points in the third quarter of 1980 and a record low of 5 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 June of 2022.
Business Confidence in South Africa is expected to be 32.00 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 45.00 points in 2023 and 38.00 points in 2024, according to our econometric models.