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Business confidence continued to decline in October, falling more than what was anticipated, said the South African Chamber of Commerce and Industry (SACCI).<\/p>\n
In October the monthly Business Confidence Index (BCI) declined to 97.5 or by 0.9 points from 98.4 in September. This is the fourth month it has fallen in a row.<\/p>\n
The real economic environment on balance has positively affected business confidence in October 2011 compared to October 2010 as four of the seven sub-indices were in positive territory.<\/p>\n
\u201cThe financial environment maintained a stable position compared to October 2010, but the depreciation of the weighted rand exchange rate and its volatility are cause for concern,\u201d noted the chamber, adding that consumer and producer inflation, household borrowing, share prices and the rand deteriorated since October 2010.<\/p>\n
\u201cOf special concern is the much higher producer inflation, lower share prices and the weaker rand exchange rate. However, the weaker rand holds positive as well as negative consequences for global trade and investment,\u201d said SACCI.<\/p>\n
Sluggish borrowing by business as well as households was an indication of uncertainty with regard to their financial health and the direction of financial environment.<\/p>\n
\u201cAlthough the aggregate financial environment has deteriorated, South Africa\u2019s relative financial stability could be described as fair to positive. The slow resolution of international public sector debt problems and low global economic growth contributed to uncertainty in the global business environment.\u201d<\/p>\n
SACCI said although the global economy was reeling under the uncertainty of the public debt problems in certain countries, the general resolve was to reinstate prudent fiscal and monetary regimes.<\/p>\n
\u201cThe emphasis is directed at maintaining real economic stability and efficacy and to promote and enhance sound financial practices in the public and private sectors. Business confidence however, remains very fragile under the present delicate and uncertain global financial conditions,\u201d it said.<\/p>\n
The index is a composite weighted index of 13 sub-indices which include retail sales volumes and new vehicle sales. \u2013 BuaNews.<\/p>\n
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Business confidence continued to decline in October, falling more than what was anticipated, said the South African Chamber of Commerce and Industry (SACCI). In October the monthly Business Confidence Index (BCI) declined to 97.5 or by 0.9 points from 98.4 in September. This is the fourth month it has fallen in a row. The real […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[1289,5],"class_list":{"0":"post-5029","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-mype","8":"tag-port-elizabeth-2","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/5029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=5029"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/5029\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=5029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=5029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=5029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}