12 °c
London
Wednesday, June 29, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

South Africa’s business confidence improves in third quarter – survey

Staff by Staff
September 11, 2020
in Africa, Economy, Finance, Industry and Commerce, South Africa
Reading Time: 2 mins read
794 16
0
South Africa's trade surplus
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

South Africa’s business confidence recovered from an all-time low in the third quarter of the year as coronavirus-led curbs were largely lifted, but consumer sentiment remained heavily depressed, a survey showed on Wednesday.

The Rand Merchant Bank (RMB) business confidence index (BCI), compiled by the Bureau for Economic Research, rose to 24 points in the third quarter from 5 points in the second quarter.

South Africa’s wholesale sector confidence rebounded the most in the period, with recoveries in agriculture and international trade adding to the overall increase, according to the survey.

Last month, President Cyril Ramaphosa announced a sweeping removal of lockdown restrictions on the economy, reopening its borders for leisure travel, lifting the bans on the sale of alcohol and tobacco products, subject to strict hygiene regulations.

“Although a lot of data are still outstanding, these developments point to a much-improved outcome where GDP can recover some lost ground, possibly increasing by an annualised rate of 20%-25% in the third quarter”, the survey said.

Also read: South Africa’s stocks rebound from worst week since March on gold boost

South Africa recorded a GDP plunge of 51.0% in its second-quarter on Tuesday, registering its largest contraction ever as a strict lockdown to curb the spread of the coronavirus shut down most activity.

“While no doubt discouraging, the improved RMB/BER BCI in the third quarter is supportive of these figures representing the worst point for this cycle,” Ettienne Le Roux, chief economist at RMB said.

The survey was conducted online between Aug.12 and Aug.31, covering about 1,800 executives across building, manufacturing and the domestic trade sectors.

Source: Reuters

Related

Tags: Bureau for Economic ResearchBusiness confidenceEconomyRand Merchant BankSouth AfricaSouth Africa's business confidence improves in third quarter - surveyюжная-африкаجنوب-أفريقيا南アフリカ南非
ScanSendShare324Tweet203Share57Pin73Send
Staff

Staff

Related Posts

The tripartite network theory in the gold mining industry: a lesson for Africa
Commodities

Ethiopia’s gold export generated US$513.9M in 11-month

by FurtherAfrica
June 29, 2022
S&P Analysis: New African refining projects to cap continent’s crude exports
Energy

Angola joins the EITI as Africa’s 28th member

by Energy Capital & Power
June 29, 2022
Mozambique picks Societe Generale to advise state oil company on funding
Economy

SocGen CEO sees organic Africa growth in ‘uncertain climate’

by FurtherAfrica
June 29, 2022
Environment

UK to guarantee US$2B of AfDB debt to boost climate fight

by FurtherAfrica
June 29, 2022
Agriculture

Kenya inks MoU for avocado processing in Kisii

by Farmers Review Africa
June 29, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

The tripartite network theory in the gold mining industry: a lesson for Africa
Commodities

Ethiopia’s gold export generated US$513.9M in 11-month

by FurtherAfrica
June 29, 2022
0

Ethiopia has obtained 513.9 million US Dollars from the export of gold in the last eleven months of the current...

Read more
S&P Analysis: New African refining projects to cap continent’s crude exports

Angola joins the EITI as Africa’s 28th member

June 29, 2022
Mozambique picks Societe Generale to advise state oil company on funding

SocGen CEO sees organic Africa growth in ‘uncertain climate’

June 29, 2022

UK to guarantee US$2B of AfDB debt to boost climate fight

June 29, 2022

Kenya inks MoU for avocado processing in Kisii

June 29, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?