SA economy | Slight uptick in business confidence

Students have returned home from Ukraine. eNCA/Heidi Giokos

JOHANNESBURG - There's been a slight uptick in business sentiment, according to business chamber SACCI's business confidence index.

SACCI says business confidence rose to a four-month high in July due to increased tourism numbers and a larger than expected 31 percent rise in new vehicle sales in July from a year earlier.

READ: SA economy hit 11-year low in 2020

SACCI says the latest tourism data shows the number of visitors almost doubled year-on-year in May and income from tourist accommodation increased by 87 percent.

However, the overall sentiment still remains weaker than desired due to the country’s low growth, electricity challenges and policy uncertainty.  


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