Cape Town - More than 70% of respondents in the latest FNB/BER Civil Confidence Index said they are dissatisfied with current business conditions.
A noticeable weakening in construction activity weighed on confidence in the first quarter of 2016, the survey shows. However, despite lower activity and higher competition, overall profitability remained relatively stable.
Regarding the outlook, survey respondents expect an improvement in construction activity next quarter. However, other data suggests that the remainder of 2016 may see construction work slow further, particularly given soft demand, Muscat pointed out.