Business confidence ‘steady’
BUSINESS confidence in South Africa was steady in December from the prior month, with export and import volumes and the value of building plans improving, a survey showed yesterday.
The SA Chamber of Commerce and Industry’s (Sacci) monthly business confidence index (BCI) stood at 93.8 in December, largely unchanged from 93.9 in November.
This is the first time since February 2015 that the BCI improved on a year earlier.
“Positive monthly contributions to the BCI mainly came from merchandise export and import volumes, the rand exchange rate and the real value of building plans passed.
“The US dollar price of precious metals, credit to the private sector, retail sales and share prices made the largest negative month-onmonth impacts on the BCI in December 2016,” said Sacci.
The business organisation said the International Monetary Fund, ratings agencies, private sector entities and the National Treasury have identified areas in the economy that need adjustment.
Sacci said the leeway in maintaining the investment status by reputable rating agencies in December 2016 afforded South Africa an opportunity to address matters that seriously restrain the economy. – Wiseman Khuzwayo