Economics
South Africa Business Confidence at Lowest Since Junk Rating
- Index measuring sentiment fell to 31 in the fourth quarter
- Political and policy uncertainty weigh on confidence, RMB says
The Johannesburg skyline
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South African business confidence fell to the lowest level since the country lost its investment-grade credit rating, as political and policy uncertainty continue to weigh on sentiment.
The gauge dropped to 31 in the fourth quarter from a revised 34 in the previous three months, FirstRand Ltd.’s Rand Merchant Bank division and the University of Stellenbosch’s Bureau for Economic Research said in an emailed statement Tuesday.