SA's business confidence recovers in September
The South African Chamber of Commerce and Industry’s monthly business confidence index (BCI) rose to 93.0.
CAPE TOWN - Businesses are coping a little bit better with the depressed South African economy.
South Africa’s business confidence index rose in September as merchandise import and export volumes increased, a survey showed on Thursday, after falling to its lowest in more than three decades in August.
The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) rose to 93.0 in September from 89.6 in August, which was the lowest level since the mid-1980s.
“Although the business climate improved on August 2017’s subdued business conditions, the slow-growing economy still constrains business activity,” SACCI said.
SACCI has noted that a number of public sector institutions continue to experience financial difficulties, warning that it could have a negative effect when the credit rating agencies make their next assessment
The chamber has called for a collective resolve to break the current negative trend.
Additional reporting by Reuters.
(Edited by Shimoney Regter)