CEO Confidence

CEO CONFIDENCE INDEX

The Merchantec Capital CEO Confidence Index is a unique economic measure of the confidence of CEOs across the South African business landscape.


Gain insights into intended corporate hiring, capital and debt raising, Capex and future investments of South African companies and their leaders.


The questionnaire aggregates responses from over 1,000 CEOs of companies in both the listed and private environments. The Index therefore provides a comprehensive outlook of the South African economy going forward and is a leading indicator of the perceptions of business Executives.


The Merchantec Capital CEO Confidence Index was first released in Q2 2009 and is prepared on a quarterly basis.


Guest commentary from prominent CEOs including Mark Smith (FoneWorx Holdings Limited), Craig Venter (Allied Technologies Limited), Wayne Hook (Spar Group Limited) and Bernie Krone (EsorFranki Limited).



Q2 2018

Are SA CEO’s running out of optimism in their fuel tanks?

The Merchantec CEO Confidence Index recorded a 20.9% decrease in CEO confidence between Q1 of 2018 and Q2 of 2018 to a score of 47.4, a downward spike following the optimism of last quarters increase in sentiment. Most CEO’s hoped that the election of President Ramaphosa would bring drastic cabinet reshuffles as well as radical economic policy changes that would potentially create an upturn in business confidence but the anticipated effect has not translated in this quarter’s results of the survey. A little less than half of the CEO’s scored President Ramaphosa a 5 when asked to rate his first 100 days in the bonus question of the survey, which indicates that the jury is still out on assessment of the Presidents performance.

A few CEO’s said that it was unreasonable to expect a huge shift in the economy in such a short time and believe that it will take far more than 100 days to turn the economy around, but the prevailing attitude is one of scepticism. CEO’s cited that there are 5 major contributors to their change in disposition, The “Zuma Hangover”, uncertainties surrounding expropriation of land without compensation, the VAT increase, the fuel price hikes and the rand/dollar exchange rate volatility.

Overall, confidence is averaged by CEO responses from the following sectors: Basic resources, Industrials, Financials, Information and Communication Technology, Consumer Goods and Consumer Services. CEO’s across all 6 industry sectors believe that current economic conditions in South Africa compared to 8 months are significantly better.

Basic Materials/Resources showed a marginal increase in confidence on the back of increased commodity prices and the weaker rand. While all other sectors showed a marked decrease, with Consumer Services depicting the largest decrease in CEO confidence, citing the lack of company growth prospects as the reason, brought on by reduced consumer spending accredited to the increased cost of living in SA.

Industrials decreased by 28.1%, moving to a score of 42.59. The decrease in overall confidence was primarily driven by decreases in economic conditions and planned investment expectations.


Financials recorded a decrease in confidence of 17.4% in Q2 2018. This sentiment was attributed to a drop in industry growth expectations and ability to secure debt.


Consumer Services recorded the largest decrease, this was driven by a 48.3% decrease in confidence relating to economic conditions and 41.5% decrease in industry growth expectations.


For a copy of the first quarter 2018 Merchantec CEO Confidence Index Report or for previous quarterly reports, please email Sabrina Manikkam at sabrinamanikkam@merchantec.co.za or visit Merchantec CEO Confidence Index for past results.

CEO CONFIDENCE INDEX 2018


Q1:2018   Q2:2018
 

CEO CONFIDENCE INDEX 2017


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CEO CONFIDENCE INDEX 2016


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CEO CONFIDENCE INDEX 2015


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CEO CONFIDENCE INDEX 2014


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CEO CONFIDENCE INDEX 2009


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IN THE MEDIA


2013
Q2
http://finweek.com/2013/06/05/labour-unrest-and-unsecured-lending-shake-ceo-confidence/

The Merchantec CEO Confidence Index, an index that reflects the confidence levels of local CEOs, weakened in the second quarter of this year.

http://www.engineeringnews.co.za/article/survey-shows-ceos-confidence-down-2013-06-05

The level of confidence among South African CEOs weakened in the second quarter, with top executives expressing concern over the impact of...

http://businessnews.howzit.msn.com/article.aspx?cp-documentid=255610115

CEO confidence index weakens in the second quarter of this year according to a survey conducted by Merchantec Capital.

Q1
ABN Digital - Merchantec CEO Confidence Index up 11.5% in Q1

The Merchantec CEO Confidence Index ticked up 11.5% to 58 points in first quarter of 2013. The Basic Materials sector had the greatest increase in confidence, ...

CEO Confidence Index rises 11.5% from 52 to 58 pts - howzit MSN ...

Merchantec CEO Confidence Index strengthens in the first quarter of 2013 rising by 11.5% from 52 to an overall score of 58 points.

2012
Q4
SABC News .com - Merchantec CEO Confidence Index

SABC News .com - Merchantec CEO Confidence Index ... The Merchantec CEO Confidence Index weakened in the fourth qaurter this year, dropping by 5.8 ...

Strikes, tepid growth dent executive confidence

CEO confidence fell to a three-year low this quarter, weighed down by wildcat strikes, the economic slowdown, and weakness in global demand. The Merchantec CEO confidence indexfell to 52 in the fourth quarter from 58.1 in the third - its lowest in nearly ...

Q3
CEOs' confidence still shaky but improving, index shows
BDLive

A CEO confidence index developed by Merchantec, a corporate finance, equity research and business advisory firm, recorded a marginal rebound in overall ...

CEOs confidence improves marginally
Creamer Media's Engineering News

The latest Merchantec CEO confidence index improved by 4.5% to 58.06 points in the three months from June to September, from 55.5 in the previous quarter.

Q2
Bonds a tad firmer in quiet trade
BusinessLIVE

This is according to the Merchantec CEO Confidence Index. CEO confidence recorded a significant fall on account of the woes in the euro zone, the economic ...

CEOs' confidence still shaky but improving, index shows
Creamer Media's Engineering News

Europe remained a major trading partner for South Africa, with 70% of South African CEOs canvassed in the Merchantec CEO Confidence Index, published on ...

Q1
CEOs positive about SA economic outlook
Primedia Broadcasting - Eyewitness News

A new survey shows South African chief executive officers are more optimistic about the country's economic outlook. The Merchantec CEO's Confidence Index ...

BusinessDay CEO confidence surges survey

The Merchantec CEO confidence index bucked its downward trend of the previous three quarters to increase 20% to 656 points in the first quarter of this year ...

2011
Q4
Euro risk tempers CEO optimism
Business Day

This is according to the findings of the Merchantec Capital CEO Confidence ... Merchantec said although confidence levels among the CEOs were relatively...

CEO confidence stabilises, survey shows
BusinessLIVE

The Merchantec CEO Confidence Index remained relatively flat in the fourth quarter of 2011, with a slight dip to 54.4. "This stabilisation could suggest the ...

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