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13 March 2010 -

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Business Confidence Index decline in January

The business confidence index (BCI) declined in January. This is according to the SA Chamber of Commerce and Industry (SACCI). Sacci economist Richard Downing says the BCI declined to 81.2 points in January from 83.5 in December. He also says more sub-indices had a positive impact in January 2010 than in December, but the decline in the sub-indices of import and export merchandise volumes had a relatively greater impact on the BCI. Downing says  SACCI is concerned the economy is yet to share in the economic recovery anticipated for key emerging market economies: Click here to listen to audioclip. Africa's biggest economy registered positive annualised growth in the third quarter of 2009, exiting its first recession in nearly 2 decades after 3 consecutive quarters of contraction, but analysts expect the recovery to be slow. Some analysts say the still-fragile economy can prompt the central bank to cut interest rates this year.

 

 

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