I have heard of local authorities without a single engineer.
In spite of this increase, manufacturing confidence remains the lowest of the five sectors surveyed, indicating that it is still the sector most affected by the strong rand.
However, the index should remain in strongly positive terrain.
The fact that the index remains at an historically high level supports our view of a continuation of the upward trend in the business cycle.
When South African companies invest abroad today, it will trigger income streams in the future. For instance, the investment made by Rembrandt in the 1950s proved very valuable over the decades.
