After a slight boost in July, business confidence has fallen to its lowest level in almost a year. The Sacci business confidence index (BCI) dropped 4.2 index points in August to 90.5 compared to 94.7 in July. However, it remained 0.9 index points above the 89.6 of August 2017. "The positive mood that prevailed at the beginning of 2018 has been overtaken by uncertainty and events that weigh on the economic prospects for SA. This also taints SA as a sought-after investment destination," the South African Chamber of Commerce and Industry (Sacci) said in a statement on Wednesday. The Sacci index is a measure of business activity rather than a sentiment survey in that it is compiled from a variety of activity indicators, including energy production, trade figures and financial market performance. Only three of the 13 subindices of the composite BCI improved in August from July, five were unchanged and five turned negative. The business climate was shaken by uncertainty in both real econ...
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