South Africa's business confidence hit a record low in the second quarter, a survey showed on Wednesday, as a coronavirus-led lockdown stalled an economy that was reeling from a recession even before the Covid-19 pandemic. The Rand Merchant Bank (RMB) business confidence index (BCI), compiled by the Bureau for Economic Research, was at 5 points for the second quarter, the lowest level since the first survey in 1975 and down from 18 points for the first quarter.
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