Business confidence has fallen further in the fourth quarter. The business confidence index, compiled quarterly by Rand Merchant Bank (RMB) and Stellenbosch University’s Bureau for Economic Research (BER), fell 31 points from 34 points in the third quarter. Sixty-nine percent of businesses surveyed found conditions unsatisfactory. Retailers registered the biggest improvement in sentiment while manufacturing and wholesale confidence improved slightly. RMB chief economist Ettienne le Roux joined Business Day TV to discuss the data and what it means the economy.
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