RMB/BER BUSINESS CONFIDENCE INDEX STUCK AT A LOW LEVEL
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GUEST – Siobhan Redford, an economist at Rand Merchant Bank
Following a two-point decline in the fourth quarter of 2023, the RMB/BER Business Confidence Index (BCI) ticked down by another point to reach 30 in the first quarter of 2024. This means that seven out of ten survey respondents are unsatisfied with prevailing business conditions. Taking a slightly longer perspective shows a concerning picture as less than four out of ten survey respondents were satisfied with prevailing business conditions for seven consecutive quarters. Business confidence was, again, largely unchanged among building contractors and wholesalers. Declines in sentiment in the retail and manufacturing sectors outweighed a ten-point improvement among new vehicle dealers.
Following a two-point decline in the fourth quarter of 2023, the RMB/BER Business Confidence Index (BCI) ticked down by another point to reach 30 in the first quarter of 2024. This means that seven out of ten survey respondents are unsatisfied with prevailing business conditions. Taking a slightly longer perspective shows a concerning picture as less than four out of ten survey respondents were satisfied with prevailing business conditions for seven consecutive quarters. Business confidence was, again, largely unchanged among building contractors and wholesalers. Declines in sentiment in the retail and manufacturing sectors outweighed a ten-point improvement among new vehicle dealers.
