After falling from 18 to an all-time low of five in the second quarter, the Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) business confidence index (BCI) rebounded to 24 in the third quarter. However, the BER states that, from such a low base, when the strictest of the Alert Level lockdowns took effect, this improvement is not entirely unexpected. But, even so, the BER states that, while the outcome is pleasing, sentiment remains heavily depressed, with almost eight out of every ten business executives surveyed regarding prevailing business conditions as unsatisfactory.
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