A Moody's sign on the 7 World Trade Center tower is photographed in New York, file. REUTERS/Mike Segar
JOHANNESBURG (Reuters) – The steep decline in South Africa’s business confidence is a setback to economic growth recovery and will dampen investment, ratings agency Moody’s said on Monday.
“Reduced business confidence implies reduced investment, which would negatively affect growth in South Africa’s already-weak economy, and will ultimately make fiscal consolidation more challenging,” Moody’s senior analyst Zuzana Brixiova said in a research note.
(Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia)
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