Sacci’s business confidence index declined to 91.8 in March, the lowest level since August 2017
Jitters ahead of the national elections have weighed on business confidence, dragging it to its lowest level since August.
“The BCI reflects a depressed business climate that is dominated by concerns over continued difficult and uncertain domestic economic circumstances. The upcoming May 8 2019 general elections add to this uncertainty,” Sacci said in a statement on Wednesday. Six of the 13 sub-indices of the BCI improved on their February 2019 readings, while four declined and three were unchanged. The rand, load-shedding, the electricity tariff increase and an ease in manufacturing output weighed on the index.
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