South Africa’s August business confidence lowest in 34 years-SACCI

South African business confidence fell to its lowest level in 34 years in August, as a sharp drop in export…

South African business confidence fell to its lowest level in 34 years in August, as a sharp drop in export volumes and a weaker currency aggravated already tough economic conditions, a survey showed on Wednesday. The South African Chamber of Commerce and Industry’s monthly business confidence index (BCI) fell to 89.1 in August from 92.0 in July, the lowest level since the inception of the index in April 1985 when the measure was at 88.1, the business body said.

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