Business Confidence Index rises

WEB_PHOTO_UK_SA_MARKETS_100_RAND_23_05_2017

File: The index rose from 90.5 in August to 93.3.

A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. PHOTO: REUTERS/Philimon Bulawayo
Reuters

JOHANNESBURG - The Business Confidence Index edged up last month, buoyed by increased export volumes, new vehicle sales and low inflation. 

The index rose from 90.5 in August to 93.3.

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The BCI last saw highs in January, following President Cyril Ramaphosa’s election as ANC president in December but South African businesses are still under pressure on many fronts. 

The South African Chamber of Commerce and Industry said the upcoming Medium Term Budget Policy Statement will provide policy direction and certainty.

It said this is likely to boost confidence.