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South Africa's low business confidence setback to growth recovery - Moody's
June 19, 2017 / 8:40 AM / 5 months ago

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

JOHANNESBURG, June 19 (Reuters) - 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. (Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia)

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