The construction confidence index for South Africa fell for the second quarter this year, yet profitability is expected to increase for the third quarter.
First National Bank and the Bureau for Economic Research jointly issued the report about the state of construction in the country. After rising to a four-year high of 51 index points in the first quarter, the construction confidence index shed six points to 45 in the second quarter.
Although confidence retreated somewhat in the second quarter, the rise in activity suggested that growth in the sector likely accelerated.
In addition, the outlook for construction has improved significantly and firms expect activity and profitability to increase notably in the third quarter.
Read more at fin24.