Afrique du Sud Confiance Des Entreprises

The RMB/BER business confidence index in South Africa rose to 45 in Q4 2024, up from 38 in the previous three-month period. This was the third consecutive increase in business sentiment, which now puts the index at its highest since Q1 2022. Encouragingly, the rise in sentiment was driven by improved activity and better business conditions, supported by a stable electricity supply and political stability. All subsectors, except new vehicles, saw increases. The building contractors' sector surged by 10 points to 51 in the fourth quarter, while wholesale trade rose to 60 from 51. Manufacturing climbed to 36 from 28, and retail sector confidence improved to 54 from 45. “The further improvement in business confidence is very welcome and is testament to the impact of the gradual improvement on the reform front,” said RMB chief economist Isaah Mhlanga.