Picture: ISTOCK
Picture: ISTOCK

Business confidence has recovered slightly, according to the South African Chamber of Commerce and Industry (Sacci).

After the Sacci Business Confidence Index (BCI) declined to its lowest level this year in August at 89.6 points, the index recovered 3.4 index points to 93 in September. Compared to the same period in 2016, the index was up 2.7 points.

"Although the business climate improved on August’s subdued business conditions, the slow-growing economy still constrains business activity," Sacci said in a statement released on Thursday:

Seven of the thirteen subindices of the BCI reflected positive month-on-month movements in the business climate between August and September.

"Aspects like slow economic growth, shortage of capital formation and restrained public finances, need a collective, strong resolve to succeed and to enhance the necessary business and investor confidence, to break the current negative trend line."

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