Fin24

Business confidence edges down

2012-12-06 13:03

Johannesburg - Business confidence in South Africa declined slightly in November on worries that mining sector labour strife has slowed growth and a weak global economy is depressing demand for exports, a survey showed on Thursday.

The Business Confidence Index (BCI) dropped 0.3 index points to 91.7 in November compared with 92 in October, and was down 5.7 points year-on-year, the South African Chamber of Commerce and Industry (Sacci) said.

"The business environment remains constrained by uncertain local and global economic performance, an inconducive labour and policy environment and the consequent reservations in investor confidence," Sacci said.