Business confidence dips in the second quarter of 2025

The RMB/BER Business Confidence index (BCI) declined by five points to 40 in the second quarter of 2025, after the recovery that started in the first half of 2024 stalled in the first quarter. This implies that only four out of ten business respondents in the most cyclically sensitive sectors of the economy were satisfied with prevailing business conditions.

The majority of the respondents are thus pessimistic about trading conditions. While remaining above the average of 2023 and 2024, confidence is now a touch below the long-term average level. Indeed, RMB, warns that the underlying survey results point to a loss of momentum in the South African economy

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