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South Africa Business confidence down sharply in the second quarter
JOHANNESBURG (Capital Markets in Africa) – After hovering in net negative terrain between 32 and 42 index points over the past year, the RMB/BER Business Confidence Index (BCI) collapsed by 11 points to 29 in the second quarter. This means seven out of every 10 respondents are downbeat about prevailing business conditions. We last saw such despondency during the 2009 recession. Striking too is the fact that each of the five sectors covered in the…
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