• SA cities need foreigners

    We need to protect our cities' cosmopolitan nature, says Mzwandile Jacks.

  • Am I a racist?

    Does hating government's arrogance, nepotism and greed make me a bigot, asks Anton Ressel.

  • Recipe for disaster

    Malema's flames of frustration are fuelling white extremism, says Leopold Scholtz.

See More

SA business confidence slips

Jul 03 2013 12:03 Sapa


Related Articles

Business confidence down

Business confidence picks up - Sacci

Gordhan: Business confidence looking up

Business confidence slips to 10-year low

Business confidence at 13-year low

SA's business confidence falls in May


Cape Town - Business confidence remained fragile and hit a new low last month, the SA Chamber of Commerce and Industry (Sacci) said on Wednesday.

The Sacci Business Confidence Index (BCI) sank from 90.4 in May 2013 to 90.2 last month. In June 2012, the BCI was at 94.9.

The average BCI for the first six months of this year stood at 91.7, the lowest first-half average since 86.3 in 1999.

Sacci CEO Neren Rau said developments in the domestic economy still adversely affected business confidence.

Two BCI sub-indices, manufacturing and construction, were positive in June. Exports, imports, and share prices changed to negative in June this year, from positive in May.

Manufacturing output, new vehicle sales, and building construction showed a positive year-on-year trend.

Rau said the chamber remained concerned about the domestic economy's ability to contend with the prospect of higher inflation, further constraints on access to liquidity, and economic stagnancy in a number of sectors.

"The legacy of optimism and accomplishment of the early 1990s and the middle 2000s has in some instances given way to a lack of accountability and uncontrolled expenditure," he said.

"Even the [SA] Reserve Bank is expected to enhance growth and further ease monetary policy with inflation on the verge of topping the upper target range of 6%. The consequence is that investors are uncertain about the domestic economic policy direction and its consistency."

Sacci believed that sustainable economic growth was the only way to address certain socio-economic problems.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

sarb  |  sacci  |  neren rau  |  business confidence index



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Must see! The most luxurious dog house!

This dog house comes with a treadmill and hot tub, you have to see it!


Luxury living

Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht
Habits of the world’s richest people

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote