SA agribusiness confidence index at lowest in nine years
Confidence in South Africa’s agribusiness sector has waned in recent months, with a quarterly index sponsored by advocacy group Agbiz and the Industrial Development Corporation falling to its lowest in nine years.
After declining to 48 points in the third quarter of 2018 from 54 in the previous quarter, the Agbiz/IDC Agribusiness Confidence Index weakened further to 42 in the last quarter of the year, the lowest point since the fourth quarter of 2009.
“The results, which are below the neutral 50-point mark, imply that agribusinesses are downbeat about business conditions in South Africa,” the Agricultural Business Chamber (Agbiz) said.
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