The RMB/BER business confidence index in South Africa plunged to 21 in Q3 2019, its lowest level since Q2 1999, from 28 in the prior period, as concerns about the health of the economy grew. Sentiment deteriorated in four of the five subindexes with the retail and wholesale trade declining the most. Only motor trade showed improvement, but still the index is very low. "It would appear that more and more business people participating in the survey are simply giving up hope, a concerning development, and one that spells even greater trouble ahead for an already weak economy", RMB said. Business Confidence in South Africa averaged 43.53 Index Points from 1975 until 2019, reaching an all time high of 92 Index Points in the third quarter of 1980 and a record low of 12 Index Points in the fourth quarter of 1977.
Business Confidence in South Africa is expected to be 24.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in South Africa to stand at 10.00 in 12 months time. In the long-term, the South Africa Business Confidence is projected to trend around 18.00 Index Points in 2020, according to our econometric models.