http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.71Change: -0.01
R/$ = 10.97Change: 0.06
Au 1198.17 $/ozChange: 0.01
Pt 1224.50 $/ozChange: 1.50
 
 
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, 2012

Business confidence hits 12-year low

Back
Africa|Environment|Africa|South Africa|SACCI Business Confidence|Sacci
Africa|Environment|Africa|||
africa-company|environment|africa|south-africa|sacci-business-confidence|sacci
© Reuse this



Business confidence plunged to a 12-year low in July, the South African Chamber of Commerce and Industry (Sacci) reported on Tuesday, as it expressed concern over the global economic slowdown and the widespread downwards revision of South Africa’s growth outlook.

The Sacci Business Confidence Index (BCI) declined by four index points to 90.9 in July, after bouncing back by 2.1 points from the 92.8 in May to 94.9 in June. The July reading is down more than eight points on a year ago.

Sacci stated that the latest move in the BCI indicated that business confidence remained highly fragile and unpredictable.

“The short-term monthly improvements in June 2012 were to a large extent reversed in July 2012 with four of the seven sub-indices for the real economy being less favourable than in June. Where eight of the thirteen sub-indices of the BCI were positive on a monthly basis in June, only three sub-indices were positive in July 2012 with four indices being neutral. The majority of the sub-indices in the financial environment were neutral while the sub-indices in the real economy were largely negative on a month-on-month basis,” the index stated.

On a yearly basis, seven of the thirteen sub-indices improved in July 2012 and one remained unchanged. This is better than in June 2012 when five sub-indices made a positive contribution to the BCI.

Sacci said that the growth slowdown globally and locally would impact on trade and the current account of the balance of payments. “Given the uncertain outlook for international trade, a growing trade deficit may have further adverse economic consequences. Foreign trade remains a key contributor in supporting and nurturing local business confidence,” it concluded.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 1 minute ago A Spoor & Fisher partner on Wednesday called on the Department of Trade and Industry (DTI) to finalise its proposed policy for Intellectual Property (IP). The policy, which had not been drafted in consultation with IP law experts, was published in September 2013,...
Auditor-General Kimi Makwetu
Updated 11 minutes ago Auditor-General Kimi Makwetu has called on all government leaders to play a crucial role in ensuring that government departments and entities improve their audit outcomes. He has raised concerns over irregular expenditure, non-compliance with legislation, auditees...
Updated 27 minutes ago The Somalia Stock Exchange expects seven companies in the telecoms, financial services and transport sectors to list their shares when the bourse is set up in 2015, its founder said. Somalia's economy is slowly recovering from more than two decades of conflict,...
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
JSE-listed real estate investment trust (REIT) Rebosis Property Fund achieved a distribution growth of 8.1% to 99.45c per linked unit in the financial year ended August 31, despite volatile market conditions.
JAMES ROBERTS The MOM incubator was designed to help babies in developing nations who were dying in conflict-struck nations or who do not receive hospital care
A low-cost, inflatable incubator won this year’s international James Dyson design award, which aims to encourage and inspire the next generation of design engineers.
The World Bank released its ‘Doing Business 2015: Going Beyond Efficiency’ report last month and ranked South Africa 43 out of 189 global economies for its ease of doing business, with Singapore topping the rankings.
Air Products South Africa officially launched its R300-million Eastern Cape air- separation unit (ASU), at its new manufacturing facility in the Coega Industrial Development Zone (IDZ), earlier this month. It is the second facility that Air Products launched in South...
BMW South Africa (SA) has signed a power purchasing agreement with energy company Bio2Watt. The offtake partnership will bring renewable energy to the carmaker’s Rosslyn plant, north of Pretoria.
 
 
 
 
 
 
 
 
 
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