JOHANNESBURG – The FNB/BER Building Confidence Index recovered from a two-decade low of 22 points recorded in the third quarter and rose by three points to 25 in the fourth quarter.
But the current level of the index indicates that only one out of four respondents are satisfied with prevailing business conditions in the country.
The report, released on Wednesday, found that four sub-sectors – hardware retailers, architects, sub-contractors, and main contractors – registered higher confidence in the fourth quarter.
However, this was almost entirely offset by a 35-index point drop in building material manufacturer confidence.
Siphamandla Mkhwanazi, senior economist at FNB, said the underlying indicators suggested a mild improvement in activity, but off a low base.