South Africa’s September business confidence recovers from 34-year low – SACCI

Un trader al lavoro. REUTERS/Luke MacGregor

JOHANNESBURG (Reuters) – South African business confidence improved in September, recovering from a 34-year low in the previous month as exports and vehicle sales increased while economic activity picked-up, a survey showed on Wednesday.

The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) rose to 92.4 in September from 89.1 in August.

Seven sub-indices of the index improved and three remained unchanged between September and August.

“Positive annual contributions in September came from the higher U.S. dollar price of precious metals, energy supply – the latter mainly owing to a decline in the crude oil price,” SACCI said in a statement.

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