Local businesses pessimistic of the future - Chamber of Commerce survey

The Chamber has attributed the subdued sentiment to currency volatility, corruption and political uncertainty.

Picture: Pixabay.com.

CAPE TOWN - Apart from local businesses' subdued sentiment over trade conditions, their expectations about the future are also concerning.

That is according to the South African Chamber of Industry and Commerce which released the latest trade Conditions Survey on Thursday.

June's Trade Conditions Survey has remained in negative territory and businesses are pessimistic.

The Chamber has attributed the subdued sentiment to currency volatility, corruption and political uncertainty as some of the impediments to trade.

The Chamber's Richard Downing says: “We’re looking six months ahead and asking the respondents how they give business to be six months from now and that is the sort of the negative means they got from that, and that is the worrying factor.”

He adds this does not bode well for the country's record unemployment rate, saying if there are improvements over the next six months, these will be marginal.

(Edited by Zinhle Nkosi)