Busi­ness con­fi­dence ‘steady’

The Star Late Edition - - BUSINESS REPORT -

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

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