Business confidence has plunged to a 15-year low, providing a further indication that the country is in a recessionary state.
Persisting pessimism among businesses normally translates into less investment in the economy and raises the likelihood of job losses.
The South
African Chamber of Commerce and Industry (Sacci) Business Confidence
index, the Markit/Standard Bank Purchasing Managers’ index (PMI), and
the Bureau for Economic Research (BER) Manufacturing Business Confidence
index were all under pressure last month, data showed on Thursday.
Persisting pessimism among businesses normally translates into less investment in the economy and raises the likelihood of job losses.
