The index measuring activity growth has deteriorated for the second consecutive quarter. Despite this, it remains above the long-run average.
The FNB/BER Civil Confidence Index held steady in the second quarter of 2026 after falling 9 index points to 43 in the first three months.
However, more than 55% of respondents were dissatisfied with prevailing business conditions, and growth in construction works slowed slightly.
The index measuring activity growth has deteriorated for the second consecutive quarter. Despite this, it remains above the long-run average.
“Based on the survey results, growth in construction works likely eased this quarter. This is largely due to the higher cost environment and the uptick in general economic uncertainty resulting from the US-Iran war,” said FNB senior economist Siphamandla Mkhwanazi in a statement.
