After moving marginally higher to 10 in the second quarter of 2022, the FNB/BER Civil Confidence Index increased further to 24 in the third quarter, which is a level last reached in the first quarter of 2020 and the construction activity index rose to a six-year high. However, even though the FNB/BER Civil Confidence Index registered a gain of 14 points, the vast majority of respondents are still dissatisfied with prevailing business conditions. The current index level means that more than 75% of respondents were dissatisfied with prevailing business conditions, says FNB senior economist Siphamandla Mkhwanazi.
