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Business Confidence Takes a Dip| News by Staff Reporter
Business confidence in April 2012 dropped a further 1.4 points
Business confidence in April 2012 dropped 1.4 index points, according to the South African Chamber of Commerce and Industry (Sacci).
The Sacci Business Confidence Index (BCI) dropped 1.4 points in April to 94.3 index points, following a drop in March which saw it fall to a three-year low.
This level is 8.2 index points lower than the level in April last year, according to Sacci.
“An unstable and weakening business environment accompanies the volatility in the BCI at present,” said the chamber.
Sacci reported that minor improvements were made in comparison to March with two of the six financial sub-indices being positive and one neutral.
Year-on-year in April 2012 there were improvements in a total of five out of 13 sub-indices, including three in the real economic environment category.
There was also a marked improvement in credit extension figures for March, according to the chamber.
“Given the current levels of household debt, borrowing should be done with circumspection to avert painful adjustments later on,” it added, saying business was ready to accommodate sustainable consumer demand.