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South Africa's low business confidence setback to growth recovery: Moody's

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South Africa's low business confidence setback to growth recovery: Moody's

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19th June 2017

By: Reuters

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The steep decline in South Africa's business confidence is a setback to economic growth recovery and will dampen investment, ratings agency Moody's said on Monday.

"Reduced business confidence implies reduced investment, which would negatively affect growth in South Africa’s already-weak economy, and will ultimately make fiscal consolidation more challenging," Moody's senior analyst Zuzana Brixiova said in a research note.

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