After jumping from 34 to 41 in the first quarter, building contractor confidence fell to 37 in the second quarter while retail confidence retreated to 33 following a 13-point rise to 42 in the first quarter. New vehicle dealer confidence dropped from 52 index points to 35 in the second quarter, and manufacturing confidence fell from 37 to 27.

Wholesalers, however, were the exception with confidence jumping from 53 to 62.

Last week, the South African Chamber of Commerce and Industry (Sacci) BCI also fell slightly. While the BCI was 0.8 index points up on the May 2017 level, it fell by two index points between April 2018 and May 2018 to 94.

A lack of performance by local authorities “is affecting businesses operating in municipalities and in service-delivery areas, curtailing their ability to expand and create employment,” Sacci said.

“Once investment and employment creation are reinstated, business confidence should shed short-term variations and enhance economic growth and participation.”

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