More bad news for business confidence
The South African Chamber of Commerce and Industry (Sacci) has released its latest Business Confidence Index, which shows that confidence levels have fallen from 99 points in July to 98,6 points in August according to Business Live.
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.
