Johannesburg - South Africa’s business confidence edged down for the third straight month in September, dipping to 98.4 from 98.6 index points in August, according to a survey by the South African Chamber of Commerce and Industry (Sacci).
The business grouping said four of seven sub-indices representing real economic activity were positive, while five out of six sub-indices in the financial environment were negative on the monthly number.
“Global events are expected to have a greater impact on the South African economy in the months to come. The impact on the exchange rate, capital flows, economic growth, inflation, the cost of capital, budget revenue, share prices and the business mood will have to be carefully monitored.
“Business confidence remains fragile under present conditions and must be supported by a rational, consistent policy approach,” Sacci said.
The business grouping said four of seven sub-indices representing real economic activity were positive, while five out of six sub-indices in the financial environment were negative on the monthly number.
“Global events are expected to have a greater impact on the South African economy in the months to come. The impact on the exchange rate, capital flows, economic growth, inflation, the cost of capital, budget revenue, share prices and the business mood will have to be carefully monitored.
“Business confidence remains fragile under present conditions and must be supported by a rational, consistent policy approach,” Sacci said.