South African business confidence sinks to 21-year low

JOHANNESBURG – South African business sentiment plunged to the lowest level in more than two decades in the first quarter and could weaken even further as the coronavirus hits the domestic and global economy.
A quarterly guage measuring business confidence fell to 18 from 26 in the three months ended December, FirstRand Ltd.’s Rand Merchant Bank unit and Stellenbosch University’s Bureau for Economic Research said in a statement Wednesday. 
That means more than eight out of every 10 respondents are unhappy with current business conditions. The survey was based on the responses of 1,800 business executives between Feb. 12 and March 2.

Source: iol.co.za