Business confidence up but tough times ahead

The index climbed by 1,7 points in December, rising to 99,1 - the highest level since June last year. Sacci says that the rise in confidence could just reflect a slowdown in the steady decline in confidence seen last year.

Sacci says that it is concerned about the slow rate of capital spending in the economy, which was below the level needed to sustain higher real economic growth in South Africa, and warned that businesses still face a difficult and uncertain environment over the next 12 months because of serious global economic and geopolitical developments that could influence the local economy and impact on foreign investment this year.

For more:

• Business Day: Upturn in business confidence index
  
• Sacci: Sacci's Business Confidence Index