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South Africa construction confidence scores 4 year high
April 25, 2013, 9:33 am

The minister says South Africa is a vital gateway for BRICS growth in Africa [AP]

South Africa’s economy will grow 3.3 per cent this year, according to IMF figures [AP]

South Africa’s construction confidence reached a four-year high in the first quarter of the year, according to the First National Bank/Bureau for Economic Research (FNB/BER) civil confidence index released in Johannesburg last week.

The index moved up from 36 points in the fourth quarter of 2012 to 51 points in the first quarter of 2013, the highest it has been since 60 points in early 2009.

“Construction firms have been able to restore profitability following a prolonged period of intense margin pressure,” FNB’s chief economist, Sizwe Nxedlana, said in a statement.

“Confidence increased even though the slower growth in construction activity continued for the second consecutive quarter,” the report said.

South Africa’s economic expansion will accelerate to 3.3 per cent according to latest IMF growth figures released this month.

The country is still recovering from the devastating mining crisis of 2012.

The BRICS Post