South Africa's September business confidence at lowest in 22 years - CNBC Africa

South Africa's September business confidence at lowest in 22 years

Southern Africa

by Thabile Manala 0

South Africa's business confidence index fell to its lowest in 22 years in September. PHOTO: REUTERS/Siphiwe Sibeko

South Africa's business confidence index fell to its lowest in 22 years in September, a survey showed on Tuesday, reflecting companies' worries about sub-par domestic and global economic growth.

The Business Confidence Index slid to 81.6 from 84.3 in August, reaching its weakest level since July 1993, the South African Chamber of Commerce and Industry (SACCI) said.

"Apart from subdued domestic economic performance, global financial market nervousness as well as global economic uncertainty continued to prevail," SACCI said in a statement.

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