The Business Confidence Index reading of 89.3 was the lowest since the 85.7 of September 2020, the South African Chamber of Commerce and Industry said in a statement on Tuesday. This marked the third consecutive month of decline, a clear signal that business confidence in South Africa is eroding.
Load shedding didn’t get a mention in the release. It may be the case that power cuts are simply now a given, like the sun rising in the East each morning. But it is clearly weighing on confidence and investment decisions. So the Sacci BCI readings add to a swelling body of data and evidence that economic growth has slowed significantly this quarter.
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