Business confidence falls to lowest in almost two years

Lower merchandise import and export volumes dragged the SA Chamber of Commerce and Industry business confidence index down in May to its lowest level in almost two years, despite the waning Covid-19 pandemic and easing of lockdown restrictions.

Sacci’s index declined 4.4 points to 89.3 in May, down from 93.7 in April, 95.6 in March and 85.7 in September 2020. It is also 7.7 index points lower year on year. This was much lower than the 94.3 forecast...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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