The 2023 second quarter Business Expectation Survey results report has been released. The results of the Report indicate that firms are less optimistic about business conditions in the second quarter compared to the previous survey (first quarter of 2023). Firms anticipate tight access to credit across all markets (Domestic, South Africa and Elsewhere), as central banks continue to increase policy interest rates and/or maintain high interest rates amid elevated inflation. Firms expect cost pressures to be subdued in the second quarter of 2023, attributable to the relatively lower fuel prices, and expect inflation to decline, though remaining above the Bank’s 3 – 6 percent objective range in 2023 and 2024. Overall, the anticipated improvement in output of the Mining and Quarrying; Manufacturing; and Finance, Professional and Administrative Activities sectors is expected to have a positive impact on aggregate domestic economic performance.
The full report is attached below: