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Johannesburg - South Africa’s business confidence index fell slightly to 97.4 in November from 97.5 in October, suggesting that its downward momentum may have abated, the South African Chamber of Commerce and Industry (Sacci) said on Wednesday.
“Should the November 2011 Sacci BCI (business confidence index) imply that the business mood has stabilised, the stabilisation has unfortunately occurred at less than desirable levels,” Sacci said.
Business confidence has been dampened by the worsening euro debt crisis and rating agency Moody’s decision to downgrade the outlook on South Africa’s A3 credit rating, Sacci said.
“Should the November 2011 Sacci BCI (business confidence index) imply that the business mood has stabilised, the stabilisation has unfortunately occurred at less than desirable levels,” Sacci said.
Business confidence has been dampened by the worsening euro debt crisis and rating agency Moody’s decision to downgrade the outlook on South Africa’s A3 credit rating, Sacci said.
