
Top stories






More news









Marketing & Media
Chicken Licken bravely debones a rare phobia with their latest campaign
Joe Public 2 days






Construction & Engineering
US shuts down massive Lesotho development project


As a result, three quarters of respondents rated prevailing business conditions as unsatisfactory, despite the FNB/BER civil construction confidence index increasing from 21 in 3Q11 to 26 in 4Q11. The 5-index point increase only cancelled the losses of the previous year and brought confidence back to the same level compared to a year ago.
Construction activity flowed from a number of sectors.
The persistent recovery in activity slowed retrenchments. Employment declined at its slowest pace in two years.
Similar to 3Q11, tendering competition was less fierce compared to the first half of the year and profitability better compared to the previous 2½ years. However, the situation remained far from satisfactory. "Tendering competition remained cut-throat due to the scarcity of work." Some 83% of respondents indicated that an insufficient demand for construction work hampers their business. The fierce tendering competition continued to depress profitability. As a result, many respondents rated prevailing business conditions as unsatisfactory and business confidence therefore remained low.
FNB/BER Civil Confidence Index
Percentage satisfied
Civil construction
Growth in construction activity
Civil construction
Tendering competition
Source: BER Stellenbosch