JOHANNESBURG, Feb 9 (Reuters) – South African business confidence rose in January on increased trade and retail sales, data showed on Wednesday.
The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) increased to 94.1 in January from 92.0 in December.
“This is a reasonable start to 2022,” SACCI said in a statement, adding that a recovery in vehicle sales and higher share prices on the Johannesburg Stock Exchange had also supported confidence over the past year.
Factors weighing on confidence in January included rising inflation and higher debt-service costs linked to rising interest rates, SACCI said.
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(Reporting by Alexander Winning Editing by Olivia Kumwenda-Mtambo)