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SA’s business confidence improves - Sacci

The industry body’s business confidence index increased to 93.9 in November.

FILE: L-R: Tourism Council chairperson Mavuso Msimang, SACCI president Vusi Khumalo & Black Business Council CEO Mohale Ralibitso. Picture: Govan Whittles/EWN.

CAPE TOWN - The South African Chamber of Commerce and Industry (Sacci) says business confidence has improved by 0.9 index points recovering from the exceptionally low level in October.

The industry body’s business confidence index increased to 93.9 in November.

The positive monthly contributors came from real value of building plans passed, new vehicle sales and manufacturing output.

Sacci economist Richard Downing says: “While the outlook is still negative, I think we are in positive territory due to business confidence. We must still remember that we’re coming from a low level, especially from September.”

(Edited by Shimoney Regter)