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Business confidence continues to recover

The Business Confidence Index slipped to 79.6 index points in December, its lowest in 23 years.

Picture: Christa Eybers/EWN.

JOHANNESBURG - Business confidence has continued to recover after falling to its lowest level in more than two decades in December.

The South African Chamber of Commerce and Industry says the business confidence index rose to 81.2 points in March from 80.1 points the previous month.

The Business Confidence Index slipped to 79.6 index points in December, its lowest in 23 years.

This was from 82.7 points in November and followed President Jacob Zuma's decision to change finance ministers.

A possible hike in US interest rates also impacted on the situation with emerging market currencies taking a pounding.

However, the rand has since recovered a little to the slight relief of those bringing goods into the country.

The index, along with a stronger rand, is good news, as South Africa battles to achieve growth over one percent.