http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.90Change: 0.03
R/$ = 10.98Change: 0.04
Au 1233.50 $/ozChange: 4.69
Pt 1258.00 $/ozChange: 5.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 07, 2014

Business confidence at 15-year low in July

Back
Photo: Bloomberg
Africa|Africa|South Africa|Building|Manufacturing|Manufacturing Output|Precious Metal Prices
Africa|Africa||Building|Manufacturing|
africa-company|africa|south-africa|building|manufacturing|manufacturing-output|precious-metal-prices
More Insight
© Reuse this



After picking up marginally in June to 89.7 from 88.9 in May, the South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) declined to 87.9 in July – its lowest level since the 86.9 recorded in September 1999.

On a month-on-month basis, five of the thirteen BCI subindices, including manufacturing output, import volumes and building activity made a negative contribution to the index, compared with eight in June.

The level of business confidence was now 2.8 index points lower than that of a year ago as the negative yearly changes in the BCI subindices gained momentum.

Ten of the thirteen BCI subindices made a negative year-on-year contribution to the index in July, while international developments were responsible for the positive contributions made by share and precious metal prices in the context of a staid domestic economic atmosphere.

Despite low business confidence, Sacci said it welcomed the balance being tilted towards a more positive outlook for the world economy for the rest of the year.

“An improved European recovery and affirmation of South Africa’s African Growth and Opportunity Act status could positively influence trade to and from South Africa,” it stated.

The chamber was, meanwhile, concerned about the employment outlook and the impact that declining employment would have on income inequality and possible increases in the Gini-coefficient.

This was expected to further negatively affect the real disposable income of households and their expenditure potential, which was already under pressure.

“Rising unemployment is one of the immediate consequences of high wage demands supported through strike activity. The secondary economic consequences will surface more starkly in the medium term.

“With the consumer playing a diminishing role in the domestic economy, related measures of business confidence will likely be drawn lower,” it cautioned.

Edited by: Chanel de Bruyn
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 2 hours 40 minutes ago Communications Deputy Minister Stella Ndabeni-Abrahams says the Department of Communications has the responsibility of ensuring that South Africans migrate from the analogue to digital world, with the help of media and government communicators. Deputy Minister...
Updated 3 hours ago South Africa’s financial institutions have been instrumental in funding the bulk of the projects under the Department of Energy’s multibillion-rand Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), delegates heard at the Solar Indaba, in...
Rosatom logo
Updated 3 hours ago The Department of Energy (DoE) reported on Thursday night that it had concluded its first “nuclear vendor parade workshop” with a delegation from the Russian Federation and that further meetings were planned with vendor countries such as France, China, South Korea,...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
 
 
 
 
 
This Week's Magazine
Integrated energy and chemical company Sasol has partnered with Unisa Graduate School of Business Leadership (SBL) professor and founder and CEO of PanAvest Partnership Dr Douglas Boateng to publish a series of books on executive supply chain management aimed at...
MORNÉ DU PLESSIS Increased urgency and burgeoning awareness of the importance of these issues are beginning to change political risks and, thus, State responses to environmental concerns
The World Wide Fund for Nature’s (WWF’s) 2014 Living Planet Index (LPI) indicates that there has been a 52% decline in vertebrate species since 1970. The Index tracked the trends of 10 000 discrete populations of over 3000 vertebrate species between 1970 and 2010.
Rwanda has joined a number of East African countries seeking to import electricity from Ethiopia as its demand grows. After it became apparent several generation project it is implementing will not come on stream early enough, now plans to import 400 MW from Ethiopia...
Metrorail’s first new passenger train will arrive in November next year, says Passenger Rail Agency of South Africa (PRASA) CEO Lucky Montana. “Next year we will be able to put our hands around the infrastructure and equipment we have been talking about for so long.”
The Competition Commission has launched an investigation into what it says are “price fixing, market division and collusive tendering in the market for the manufacture and supply of automotive components to original equipment manufacturers” (OEMs, or vehicle...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks