Building confidence shows slight uptick

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Cape Town - Although the FNB/BER Building Confidence Index has shown a slight increase, more than 60% of respondents are dissatisfied with prevailing business conditions.

After falling to 34 in the second quarter of 2016, the index lifted by 4 points to 38 in the third quarter. This returns it to the level recorded in the first quarter, with all the sub-sectors - excluding building sub-contractors - registering higher confidence in the quarter.

Main contractor confidence rose to its highest level in more than a year to 44 in 3Q2016, from 38 in 2Q2016. “Confidence moved higher primarily due to an increase in profitability,” said FNB property economist John Loos.

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