South African business confidence index dips in September

JOHANNESBURG (Reuters) – South African business confidence fell marginally in September, with factors like energy supply, inflation and construction applying downward pressure in month-on-month terms, data showed on Thursday.

The South African Chamber of Commerce and Industry (SACCI) Business Confidence Index dropped to 108.2 in September from 108.6 in August.

SACCI said in a statement that foreign business-related factors had the most positive short-term impact on business confidence in September.

“The current business climate is not conducive to stimulating overall economic activity. Remedying this situation and enhancing the economy’s long-term prospects will require appropriate investments in human capital and fixed capital stock,” it added.

(Reporting by Tannur Anders; Editing by Alexander Winning)