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Business confidence edges up

Nov 07 2012 12:36 Reuters

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Johannesburg - Business confidence in South Africa ticked up in October after a sharp decline the previous month, but the mood in the sector remained depressed in an unfavourable economic climate, a survey showed on Wednesday.

The Business Confidence Index (BCI) added 0.3 index points to 92.0 in October compared with September, but was down 5.5 points year-on-year, the South African Chamber of Commerce and Industry (Sacci) said.

“The outlook for the South African economy remains uncertain and will respond to critical policy decisions that will be taken by the governing party at its leadership conference,” Sacci said, referring to the ruling ANC’s meeting in Mangaung in December at which it will select a party leader.

sacci  |  business confidence  |  economy

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