Business confidence slips to lowest levels since the 80s - Sacci
South Africa's business confidence index has fallen to its lowest level in more than three decades.
That's according to the South African Chamber of Commerce and Industry's (Sacci) monthly business confidence index.
The index fell to 89.6 in August from 95.3 index points in July.
Sacci says the August print was the lowest level since mid-1980s.
The chamber released the latest data at its offices in Rosebank on Tuesday.
"The business confidence index decreased by 5.7 index points between July 2017 (95.3) and the 89.6 measured in August 2017. This is the largest month-on-month decrease of the BCI since November 2015. The BCI was 3.3 index points lower than a year ago in August 2016," Sacci says.
"Lower merchandise import and export volumes mainly caused the sharp monthly decline of the BCI in August 2017. Lower consumer inflation and new vehicle sales made only moderate positive monthly contributions to the BCI in August."
Sacci says South Africa's economic performance could be doing better.
The country has just about clambered out of a technical recession.
Stats SA announced that the economy economy grew by 2.5% in the second quarter of 2017.