ECONOMIC WEEK AHEAD: Confidence falling ahead of state of nation address
Close attention will be paid to the president's speech for much-needed signs of growth
It’s likely to be a quiet week on the economic front, with little other than the business confidence index (BCI) expected, but close attention will be paid to President Cyril Ramaphosa’s state of the nation address on Thursday. After rising to record highs a year ago on Ramaphosa’s election, the SA Chamber of Commerce & Industry (Sacci) business confidence index eased in the past few months. Confidence fell slightly in December, given the lack of progress in economic performance, dropping 0.9 points to 95.2 in December, from 96.1 in November 2018. “In comparing December 2018 to December 2017, the task of restoring the business and investor climate remains a major challenge,” Sacci said at the time. “It became apparent that it will take longer to put the economy back on an upward trajectory due to structural and prolonged erosion of administrative capacity and competence to the economy inflicted earlier.” The BCI, which will be released on Wednesday, is expected to show that confiden...
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