BUILDING CONFIDENCE AT BEST LEVEL SINCE 2018

THE FNB/BER Building Confidence Index on Tuesday released increased to 29 points in the fourth quarter from 24 points in the third quarter – the best level since the end of 2018. Despite the rise in confidence, the current level of the index indicated that more than 70 percent of respondents were dissatisfied with prevailing business condition, FNB said. The report found the following changes in confidence were registered in the quarter: architects (+16), sub-contractors (+14), hardware retailers (+9), main contractors (+7), quantity surveyors (-4) and building material manufacturers (-9). However, main contractor confidence registered its highest level this year of 21. “The better sentiment this quarter was supported by improved activity. Although still lower than a year ago, the survey suggests that the rate of decline was less than in third quarter 2020,” said Siphamandla Mkhwanazi, a senior economist at FNB. Also lifting confidence was an increase in profitability.