The South African Chamber of Commerce and Industry's (Sacci’s) Business Confidence Index (BCI) declined to 93 in May, from 93.7 in April.
It was also one index point lower than the 94 recorded in May 2018.
The May BCI level indicates that the business climate still lags the business conditions that prevailed in 2018, Sacci states.
On a month-to-month basis, only four of the thirteen subindices that make up the composite BCI improved, while eight decreased and one subindex remained unchanged.
"With the national and provincial elections now concluded and the new Cabinet and provincial legislature now in place, business anticipates priority focus to be on efforts to grow the economy, to create jobs, to eliminate historical social injustices, to improve education and healthcare, to fight crime and, broadly, to improve the lives of ordinary South Africans," Sacci adds.