
S.Africa business confidence index hits lowest since Sept 2020
A worker arranges goods at a Makro branch of South African retailer Massmart, File. REUTERS/Siphiwe Sibeko
Register now for FREE unlimited access to Reuters.com
Register
June 14 (Reuters) – A South African business confidence index fell in May, hitting its lowest level since September 2020 on factors including lower trade volumes, higher financing costs and power cuts.
The South African Chamber of Commerce and Industry (SACCI) said on Tuesday that its business confidence index fell to 89.3 in May from 93.7 in April.
“It might take a while for the economy to recover and gain momentum given prevailing global economic conditions and structural economic challenges that followed on the lockdown regulations,” SACCI said in a statement.
South Africa saw devastating floods in the coastal KwaZulu-Natal province in April, which left hundreds dead, thousands homeless and caused billions of rands of damage to infrastructure which disrupted exports and imports.
The central bank increased its main lending rate by the largest margin in more than six years in May, and state utility Eskom imposed severe electricity outages. read more
Register now for FREE unlimited access to Reuters.com
Register
Reporting by Bhargav Acharya in Bengaluru
Editing by Alexander Winning
Our Standards: The Thomson Reuters Trust Principles.
More Stories
Malden to receive Business for the Arts Award
The Colorado Business Committee for the Arts has named Deborah Malden, an advocate for the arts in Boulder, among the...
School and business cancellations and closings in North Texas for Wednesday, Feb. 1
Icy winter weather continues to pummel North Texas. Schools and businesses stay closed for Wednesday. Here's the list so far....
Nashville Master Movers Celebrates 23 Years In Business
Nashville-Davidson, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Nashville-Davidson, Tennessee -Nashville, Tennessee based Nashville Master Movers is reaching out to their...
A Work of Heart’s contract with the Grand Central Mall will come to an end after 14 years of business
PARKERSBURG, W.Va. (WTAP) - In just a week the 14 year contract of A Work of Heart will come to...
Usain Bolt fires business manager over Jamaica fraud case
SAN JUAN, Puerto Rico -- Jamaican sprinter Usain Bolt told reporters Friday that he is baffled over how $12.7 million...
Required business, multi-family recycling service on track for March start
Cam Lewis, general manager at Moe's Original BBQ in Steamboat Springs, breaks down cardboard boxes for recycling in the trash...