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SA business confidence drops in December

Sacci said the rand had a negative impact by countering the influence of falling crude prices.

Sacci said the rand exchange rate had a negative impact by countering the influence of falling crude prices. Picture: EWN.

JOHANNESBURG - Business confidence fell to 88.3 points in December, the South African Chamber of Commerce and Industry (Sacci) said in a statement on Thursday.

Last month's figures were down from 90.8 in November.

Sacci says while subdued business confidence was broad-based; the rand exchange rate had a negative impact by countering the influence of falling crude prices.

Power constraints and the threat of rolling blackouts also played a role in the drop, the chamber said.

It said businesses were worried by erratic power supply, which many economists said could hinder the country's economic growth ambitions.

The manufacturing sector is particularly affected by the energy crisis, which in turn created problems with exports.

Sacci's Peggy Droski is concerned by the drop and says urgent attention is needed to stabilise the power grid.

"We need to make sure that we get all those sources of energy into the energy mix. We need to also see what can be done in order to get Medupi and Kusile back on track so that generation from those two power stations can be put onto the grid."

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