SA business confidence plunges to 35-year low
JOHANNESBURG –
Business confidence in South Africa plunged to its lowest level in April since January 1985 as activity was brought to a halt during the strict lockdown to limit the spread of the coronavirus disease.
Business confidence in South Africa plunged to its lowest level in April since January 1985 as activity was brought to a halt during the strict lockdown to limit the spread of the coronavirus disease.
The South African Chamber of Commerce and Industry (Sacci) said the business confidence index (BCI) sank to 77.8 in April of 2020 from 89.9 in March.
“Striking negative monthly impacts on the index were caused by the lower volume of merchandise exports, the weaker exchange rate of the rand, and less new vehicles sold – all mainly due to the lockdown,” SACCI said.
Source: iol.co.za
