Power cuts drag business confidence to Covid-19 levels
Only about a quarter of respondents are satisfied with the current operating conditions, according to the RMB/BER BCI
07 June 2023 - 12:04
Local business confidence fell for the fifth straight month and to its lowest level since the height of the Covid-19 pandemic, as SA’s ongoing power crisis weighs on profitability, according to the latest Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) business confidence index (BCI).
The index fell by nine index points from the first quarter to 27 in the second quarter of 2023, coming at levels last seen in 2020. That suggests that only about one in every four respondents were satisfied with the prevailing business conditions...
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