CEO confidence rises 18% q/q
The Merchantec CEO Confidence Index recorded an 18% improvement in CEO confidence between the second and third quarters of 2016, continuing the upward trend in confidence since the first quarter.
The index now lies at the neutral score line of 50, returning to the confidence levels seen in the third quarter of 2014.
The overall upturn is supported by an improvement in CEO confidence across all six industry sectors measured, with the most significant increase in the technology sector.
South African CEOs see their ability to secure debt or equity capital as moderately better compared with six months ago. On average, CEOs are expecting growth in their company or industry and for planned levels of investment to increase.
In line with the overall increase in confidence, 59.3% of South African CEOs believe that South Africa will not go into a recession in 2016 owing to the strengthening of the rand and the improvement in commodity prices leading into the third quarter, as well as the results surrounding the peaceful municipal elections.
However, the potential impact on CEOs confidence of recent developments surrounding the Hawks and Finance Minister Pravin Gordhan, will become clear in the fourth quarter.
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