South Africa's business confidence index rises

PUBLISHED: Wed, 07 Dec 2016 10:37:45 GMT

Business confidence in South Africa rose to its highest in four months in November, helped by improvements in new vehicle sales and manufacturing output, a survey showed on Wednesday.

The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) rose to 93.9 in November, its highest reading since August, from 93.0 in October.

“Positive monthly contributions to the BCI mainly came from real value of building plans passed, new vehicle sales (seasonally adjusted) and manufacturing output,” SACCI said.

“Notwithstanding the volatility in the business climate, the present turnaround in the BCI could gather more momentum.”

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