Business confidence seems to be moving in the right direction. The South African Chamber of Commerce and Industry's (Sacci's) business confidence index rose for a second consecutive month in October gaining, 2.5 index points to record 95.8. Six of the 13 sub-indices surveyed improved month-on-month, while six were unchanged and only one deteriorated. Sacci attributes the gains to the appointment of Tito Mboweni as finance minister along with President Cyril Ramaphosa's various efforts to stimulate the economy. However, it says these real actions need to be backed up by economic policy certainty. Richard Downing, chief economist at Sacci, discusses what these improvements actually mean.


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