Business confidence has continued to fall from the surge at the start of 2018, a survey from the SA Chamber of Commerce and Industry (Sacci) shows. The Sacci business confidence index (BCI) remained steady in January, falling slightly to 95.1 compared to 95.2 in December 2018. However, the BCI was 4.6 points down from the “exceptional” level of 99.7 in January 2018, when sentiment was lifted to a two-and-a-half-year high on expectations of better business prospects with the election of Cyril Ramaphosa as ANC president. Sacci’s index is a measure of the volume of activity rather than a poll of sentiment, and has a relatively strong relationship with economic growth. Following January 2018's surge, the index eased significantly throughout most of 2018 in the context of a recession in the first half of the year and sluggish economic conditions, while allegations of corruption weighed heavily on sentiment. “The deterioration of the economic and business climate in the preceding years wa...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.