Browsing: Business Index

The coronavirus (COVID-19) has hurt the South African business confidence, making it to drop to the lowest level in almost 45 years.

Among the factors sited for the drop include the resources spent in virus prevention measures—particularly the strict lockdown.

What the index says

According to information from Bloomberg News, the second-largest economy in Africa readings started in 1975 showcased, the deep fall, whereas both—Rand Merchant Bank (RMB)unit and Stellenbosch University affirmed that, a quarterly gauge measuring business confidence fell to 5 in the second quarter from 18 in the previous three months.

However, a reading of 5 means “just about every respondent in the second quarter was unsatisfied with the prevailing business conditions,” RMB said. The survey was based on the responses of 1,800 business executives between May 13 and June 1.

Further, as the nation moves away from the harsh-lockdown total of around 1 800 executives surveyed across …