However, in quarter three of 2023, we saw the GDP weaken due to weaker demand from some industries such as agriculture, manufacturing and construction. Investments in machinery and equipment shrank by 3,2% in the third quarter, contributing negatively to gross fixed capital formation, while there was an 8% upsurge to 62% in a number of mid-market businesses expecting an increase in investment in plant and machinery over the next 12 months
The Grant Thornton International Business Report (IBR) is the world’s leading mid-market business survey, interviewing approximately 5,000 senior executives biannually in listed and privately held companies all over the world. Launched in 1992 in nine European countries, the report now surveys around 10,000 business leaders in 28 countries on an annual basis, providing insights on the economic and commercial issues affecting the growth prospects of companies globally.
South Africa's optimism about the economic outlook surged significantly in the latter half of 2023, rising by nine points to reach 53%.
What lies ahead for South Africa: envisioning your business future in the midst of inflation, investments, and more.
