JOHANNESBURG (Reuters) – South African business confidence fell in November compared to the previous month as both exports and imports dipped, data showed on Wednesday.
The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) declined to 92.8 in November from 94.9 in October.
“The foreign trade account was the main malefactor that pulled the BCI down,” SACCI said in a statement.
“Less merchandise import volumes and merchandise export volumes contributed to the decline in foreign trade experienced in November 2021,” it said, adding higher inflation and uncertainty over energy supply also weighed on business sentiment.
(Reporting by Olivia Kumwenda-Mtambo; Editing by Alexander Winning)
