South African Merchantec CEO Confidence Index rises by 2 points

By bne IntelliNews December 11, 2009
The South AfricanMerchantec CEO Confidence Index rose by 2 points, to 60.32 in Q4, from a Q2 lowof 48.13. A direct link between CEO confidence and economic improvement exists,FoneWorx Holdings CEO, Mark Smith told Business Day. Over 60% of CEOs expectcompany growth in the next six months, benefiting from the World Cup, whichcould grow the economy 1.8-2.5%, Smith noted. The index also showed a 10% jumpin their companies ability to raise capital, as banks relax lending criteria,Craig Margolius of Merchantec, said. The financial sector is closely followedby the technology sector, with technology, ICT, security and telecoms to showpositive growth leading up to the Football World Cup.

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