SA business confidence index declined in August

File: Sacci's business confidence index slipping by four points to 90.5 in August.

File: Sacci's business confidence index slipping by four points to 90.5 in August.

eNCA

JOHANNESBURG - Businesses are downbeat over the current economic climate.

A second survey by the South African Chamber of Commerce and Industry (Sacci) this week showed its business confidence index slipping by four points to 90.5 in August.

READ: VAT, fuel levy hike to weigh on SA: Sacci

Yesterday the RMB/BER business confidence index also dipped to its lowest this year.

The surveys indicate that businesses are uncertain about policy, the rand exchange rate, higher inflation and weak demand.

READ: SA trade conditions worsen in July

Lower confidence usually results in weaker investments and subdued job creation.