RMB/BER Business Confidence Index falls deeper into depressed territory

THE RMB/BER Business Confidence Index (BCI) quarter three released on Wednesday indicated that the Index dropped further by one point to 39 following a five-point decline in the second quarter of 2025. Economists have raised concern about the drop in BCI.

- YOGASHEN PILLAY

Isaah Mhlanga, the chief economist at RMB, said that this is three points below the long-term average level of 42, and implies that just over 60% of respondents are dissatisfied with prevailing business conditions. “The underlying results point to an economy that is muddling through, with many activity and demand indicators in line with the 20-year average levels”

Mhlanga added that the current level of confidence is insufficient to drive an acceleration of much-needed investment to improve South Africa’s potential economic and employment growth rates. “The South African business confidence experience in recent quarters is not out of line with what we see in many other economies.