ECONOMIC WEEK AHEAD: Business and consumer confidence expected to be weaker
No respite is in sight for business and consumer confidence indices, which continue to weaken despite improving economic prospects and the reluctance of international credit rating agencies to downgrade SA. S&P Global Ratings is the latest agency to keep SA’s debt rating unchanged, citing in its report on Friday the government’s pursuit of “economic reform that should help boost the economy from 2019 onward”, despite chronic skills shortages and high unemployment. President Cyril Ramaphosa announced an economic recovery and stimulus package in September, yet business confidence is expected to have continued to weaken into the fourth quarter of 2018 due to ongoing policy uncertainty, economists say. Continued global trade tension and the diverting of investment flows to the dollar from emerging markets as interest rates in developed nations rise also constrain business confidence. The RMB business confidence index for the fourth quarter will be published on Tuesday. FNB chief economi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.