More bad news for business confidence

Sacci says that global and domestic economic performances are seriously constrained at the moment and has prompted the drop in business confidence that has steadily declined since the beginning of this year.

However, seven of the 13 indices that make up the Sacci index had improved in August. These include manufacturing, imports, vehicle sales, retail sales, construction, financing and precious metals.

It says that domestically, growth has slowed between the first and second quarters and that inflation levels have continued to rise.

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• Sacci Business Confidence Index.