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South Africa’s business confidence at seven-months low in May: survey

PUBLISHED: Wed, 07 Jun 2017 15:46:20 GMT

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Olivia Kumwenda-Mtambo | JOHANNESBURG

Business confidence in South Africa fell to a seven-month low in May, hit by political tension, doubts over the course of economic policy and credit ratings downgrades, a survey showed on Wednesday.

The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) fell to 93.2 in May – the lowest since October – from 94.9 in April.

(Reporting by Olivia Kumwenda-Mtambo; Editing by Hugh Lawson)