The RMB/BER business confidence index in South Africa rose to 50 in the second quarter of 2021 from 35 in the previous period and well above pre-pandemic levels, amid the gradual relaxation of some Covid-19 restrictions. It was the highest reading since the last quarter of 2014, as confidence rebounded especially sharply in the manufacturing, retail trade and motor trade sectors. By contrast, sentiment among building contractors and the wholesale trade sector improved only marginally. Still, it was noted that the South African economy faced risks from a fast-spreading third wave of coronavirus infections, additional lockdowns and Eskom's unstable electricity grid. source: Bureau for Economic Research (BER)

Business Confidence in South Africa averaged 42.95 points from 1975 until 2021, reaching an all time high of 92 points in the third quarter of 1980 and a record low of 5 points in the second quarter of 2020. This page provides - South Africa Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

Business Confidence in South Africa is expected to be 50.00 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 32.00 in 12 months time. In the long-term, the South Africa Business Confidence is projected to trend around 38.00 points in 2022 and 42.00 points in 2023, according to our econometric models.

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South Africa Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
50.00 35.00 92.00 5.00 1975 - 2021 points Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-09-09 10:00 AM Q3 24 5 7
2020-11-25 10:00 AM Q4 40 24 27
2021-03-10 10:00 AM Q1 35 40 45
2021-06-09 10:00 AM Q2 50 35 35
2021-09-09 10:00 AM Q3 50 45
2021-11-26 10:00 AM Q4 36


News Stream
South Africa Business Sentiment Highest since 2014
The RMB/BER business confidence index in South Africa rose to 50 in the second quarter of 2021 from 35 in the previous period and well above pre-pandemic levels, amid the gradual relaxation of some Covid-19 restrictions. It was the highest reading since the last quarter of 2014, as confidence rebounded especially sharply in the manufacturing, retail trade and motor trade sectors. By contrast, sentiment among building contractors and the wholesale trade sector improved only marginally. Still, it was noted that the South African economy faced risks from a fast-spreading third wave of coronavirus infections, additional lockdowns and Eskom's unstable electricity grid.
2021-06-09
South Africa Business Sentiment Weakens in Q1
The RMB/BER business confidence index in South Africa fell to 35 in the first quarter of 2021 from 40 in the previous period, despite the relaxation of some coronavirus restrictions. Confidence decreased across sectors, mostly retail due to weaker-than-expected Black Friday and festive sales, followed by manufacturing and new vehicle dealers. Sentiment among building contractors and wholesale traders also deteriorated slightly.
2021-03-10
South Africa Q4 Business Sentiment at Over 2-Year High
The RMB/BER business confidence index in South Africa rose to 40 in the fourth quarter of 2020 from 24 in the previous period. It was the highest reading since the second quarter of 2018, as the easing of lockdown restrictions in recent months helped to boost economic activity. Sentiment improved across all sectors, and confidence in the wholesale and retail sectors moved back into net positive terrain for the first time in more than two years. Still, "the outlook for economic growth in 2021 and beyond is highly uncertain and could also be hamstrung by weaker-than-expected Black Friday and festive season sales, as well as renewed risks associated with the coronavirus pandemic", added Ettienne le Roux, RMB’s chief economist. Lastly, the survey pointed out that activity in sectors linked to the supply-side of the economy, such as building and manufacturing, needs to improve to ensure that the upward trend in confidence lasts.
2020-11-25
South Africa Business Sentiment Jumps in Q3
The RMB/BER business confidence index in South Africa rose to 24 in the third quarter of 2020 from a record low of 5 in the previous period. It was the highest reading since the last quarter of 2019, as the country gradually relaxed most of its coronavirus restrictions during the period. Across sectors, confidence rebounded the most in wholesale and retail trade, supported by the agricultural sector and a continued recovery in international trade. "The improvement in business sentiment could mean that the 51% annualized contraction in gross domestic product in the three months through June was the worst point in this cycle", said Ettienne le Roux, RMB’s chief economist.
2020-09-09

South Africa Business Confidence
In South Africa, the BER Business Confidence Index covers 1,400 business people in the building sector, 1,400 in the trade sector and 1,000 in manufacturing. The survey assesses the level of optimism that senior executives in the companies have about current and expected developments regarding sales, orders, employment, inventories and selling prices. The index varies on a scale of 0 to 100, where 0 indicates an extreme lack of confidence, 50 neutrality and 100 extreme confidence.