After being sustained at levels above 50-point mark in the past two quarters, the Agbiz/IDC Agribusiness Confidence Index declined by 6 points to 48 in the third quarter of 2018. This is the lowest level since the second quarter of 2016, which was a drought year.
With the results now below the neutral 50-point mark, this essentially means that the agribusinesses are somewhat downbeat about business conditions in South Africa. The survey was conducted in August 2018 and comprised agribusinesses operating in all agricultural subsectors across South Africa.
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