MARKET WRAP: JSE slips on depressed business confidence
The RMB/BER BCI showed that retail saw the biggest decline in the first quarter, followed by manufacturing and new-vehicle sales
10 March 2021 - 18:19
The JSE closed weaker after SA business confidence fell in the first quarter of 2021 as the battle with Covid-19 threatened an already weak economy.
The latest RMB/BER business confidence index (BCI), released on Wednesday, showed a drop to 35 points in the first three months of the year, down from 40 in the final quarter of 2020, which at the time was the highest reading in more than two years. The Bureau for Economic Research (BER) surveyed 1,300 respondents including manufacturers, building contractors, retailers, wholesalers and new-vehicle dealers...
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