Business confidence slips in December
World Bank’s economic outlook for SA is grim and Sacci says the country lags behind other emerging markets
Business confidence fell slightly in December indicating that there has been little progress in economic performance, a survey from the SA Chamber of Commerce and Industry (Sacci) shows. The Sacci business confidence index (BCI) fell 0.9 points to 95.2 in December from 96.1 in November 2018. The index was driven down by lower merchandise export volumes, the decreased real value of building plans passed, fewer new-vehicle sales, and the weaker rand exchange rate. Compared to a year before, the BCI was 1.2 index points down. “In comparing December 2018 to December 2017, the task of restoring the business and investor climate remains a major challenge,” Sacci said on Thursday. Business confidence surged at the start of 2018 with President Cyril Ramaphosa’s appointment before falling to “a moderate level” for the rest of the year. “After the election of new leadership to the governing party in December 2017, the business climate improved substantially on positive sentiment and expectati...
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