Q2 business confidence plunges to 2009 lows

South African business confidence fell deeper into negative territory in the second quarter, to a level not seen since the 2009 recession, a survey showed on Wednesday, as persistently weak business activity and concerns over politics weighed. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic Research fell to 29 points in the second quarter from 40 points in the first quarter, remaining firmly below the 50-mark separating the net positive and negative territories.