Business confidence index hits a 31-year low
This usually translates into lower investment spending and job creation by the private sector
BUSINESS confidence fell slightly in September amid rand weakness, lower precious metal prices and a decline in share prices, a South African Chamber of Commerce and Industry (Sacci) business confidence index (BCI) showed on Wednesday. The BCI lost 2.6 index points to 90.3 in September, the worst index reading for 2016 and the lowest since July 1985. The 90.3 is also 4.1 points below that recorded in September 2015. Low business confidence usually translates into lower investment spending and job creation by the private sector. "Productive investment remains the panacea for future economic growth and job creation. Business confidence and trust remains key variables to improved economic performance," Sacci said. It was therefore important that "all facets" of SA aimed to advance the well-being of the economic and business environment, it added. Sacci identified some of SA’s challenges as weak economic growth, politics, drought and global economic developments. Despite these challenge...
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.