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Home Africa

South African business confidence recovers from 35-year low

Staff by Staff
August 13, 2020
in Africa, Data, Economy, South Africa
Reading Time: 1 min read
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South AFrican Business cofidence
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South African business confidence recovered from a 35-year low in July, boosted by improving global economic activity, but the measure remained well-below average, over worries about the slow re-openinng of the economy and soaring local infections.

On Wednesday the South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) rose to 82.8 in July from 81.4 in June.

The sentiment gauge had crashed to 70.1 in May, its lowest since the inception of the survey in 1985, and below last year’s average of 92.6.

Also read: South Africa prepares for the ultimate re-opening of tourism

Source: Reuters

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Tags: Business confidenceeconomic activityEconomySouth AfricaSouth African business confidence recovers from 35-year lowSouth African Chamber of Commerce and Industryюжная-африкаجنوب-أفريقيا南アフリカ南非
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