South African Building Confidence Climbs to Highest Since 2010

South African building confidence rose in the first quarter to the highest since the last three months of 2010, according to First National Bank.

The FNB/BER index increased 5 points to 34 in the first quarter from the previous quarter, the lender, a unit of Johannesburg-based FirstRand Ltd. (FSR), said in an e-mailed statement today.

The quarterly building confidence index is compiled by FNB and the University of Stellenbosch’s Bureau for Economic Research.

To contact the reporter on this story: Andres R. Martinez in Johannesburg at amartinez28@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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