The South Africa's SACCI business confidence index decreased marginally to 93 in May 2019 from 93.7 in the previous month, "as with the national and provincial elections now concluded and the new Cabinet and provincial legislature now in place, business anticipates priority focus to be on efforts to grow the economy, to create jobs, to eliminate historical social injustices, to improve education and healthcare, to fight crime and, broadly, to improve the lives of ordinary South Africans". In May, eight of the thirteen sub-indices decreased compared to April, four improved and one remained unchanged.
investors await government's reforms aiming at boosting economy after President Cyril Ramaphosa won general elections on May 8th. In May, eight of the thirteen sub-indices decreased compared to April, four improved and one remained unchanged. Coincident Index in South Africa averaged 108.78 Index Points from 1985 until 2019, reaching an all time high of 141.17 Index Points in December of 2006 and a record low of 88.12 Index Points in April of 1985.
Coincident Index in South Africa is expected to be 93.60 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Coincident Index in South Africa to stand at 94.50 in 12 months time. In the long-term, the South Africa SACCI Business Confidence Index is projected to trend around 94.00 Index Points in 2020, according to our econometric models.