Publications
Partners
Johannesburg - Business confidence rose in March to its highest level since September 2008, the SA Chamber of Commerce and Industry (Sacci) said on Tuesday.
"The BCI (Business Confidence Index) is 5.1 index points higher than a year ago and is the highest since September 2008 when the BCI stood at 89.9," Sacci said.
The BCI was 88.3 in March after contracting to 86.4 in February.
"This month's improvement might further enhance the momentum in business confidence as the 88 is indicative of a growing base for more sustainable economic improvement," Sacci said.
The chamber said the latest data showed the local economy had established some momentum and remained resilient in the face of global events.
"Business confidence remains sensitive to domestic socioeconomic developments.
"The conduct of the local government elections, the decisiveness with which corruption is dealt with and the level of labour dispute activity will be key determinants of whether the BCI breaches the significant level of 90."
The chamber said it was not clear what effect the Japanese nuclear disaster could have on the world economy.
"The effects of the Japanese nuclear disaster are yet unclear and could bear on global energy supplies and costs in the long run."
"The BCI (Business Confidence Index) is 5.1 index points higher than a year ago and is the highest since September 2008 when the BCI stood at 89.9," Sacci said.
The BCI was 88.3 in March after contracting to 86.4 in February.
"This month's improvement might further enhance the momentum in business confidence as the 88 is indicative of a growing base for more sustainable economic improvement," Sacci said.
The chamber said the latest data showed the local economy had established some momentum and remained resilient in the face of global events.
"Business confidence remains sensitive to domestic socioeconomic developments.
"The conduct of the local government elections, the decisiveness with which corruption is dealt with and the level of labour dispute activity will be key determinants of whether the BCI breaches the significant level of 90."
The chamber said it was not clear what effect the Japanese nuclear disaster could have on the world economy.
"The effects of the Japanese nuclear disaster are yet unclear and could bear on global energy supplies and costs in the long run."
