Local business confidence down

2008-04-28 00:00

Business confidence levels in Pietermaritzburg and the uMgungundlovu region have slumped sharply in the first quarter of 2008 compared with levels recorded in 2007, on the back of negative business sentiment fuelled by waning consumer demand, higher interest rates and the electricity crisis.

A troubling percentage of local businesses surveyed described business and trading conditions as poor or very poor. This figure now sits at 23,4%, up from only five percent in 2007.

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