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S.Africa's business confidence index inches up in third quarter -survey

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South Africa's business confidence edged higher in the third quarter as fewer power cuts provided respite to firms battling high-interest rates, according to a survey by a private investment bank.

The survey by the Rand Merchant Bank and compiled by the Bureau for Economic Research showed the business confidence index climbed to 33 points in the third quarter, up from 27 points the previous quarter.

Power cuts, which have plagued Africa's third-largest economy, reduced over the past weeks, compared with the first half of the year. However, production costs and stock levels were high, the survey said.

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