The South African Chamber of Commerce and Industry business confidence index rose to 110.3, from 108.5 in June, and the reference year was adjusted to 2020 to account for the latest trends in the economy and financial markets, the group said Wednesday in an emailed statement.
New vehicle sales rose 31% in July from a year earlier — more than economists expected — pointing toward medium-term investment, SACCI said. The latest tourism data showed the number of visitors almost doubled year-on-year in May and income from tourist accommodation increased by 87%.
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