South Africa SACCI Business Confidence Index1985-2020 Data | 2021-2022 Forecast

The South Africa's SACCI business confidence index was 85.7 in September of 2020, little-changed from 85.8 in August and close to pre-pandemic levels, as the further easing of the country's lockdown restrictions boosted manufacturing output, exports and imports. Meanwhile, a sustained decline in retail sales volumes, lower share prices on the JSE and less real credit to the private sector weighed on sentiment. "The country remains in a fragile situation and therefore government should continue to pursue enabling policies and an environment that encourages the business sector to fast-track growth and employment creation", SACCI said. South Africa has moved to Level 1 lockdown restrictions from September 21st, 2020, following a significant decrease in Covid-19 cases.

The South Africa's SACCI business confidence index rose to 82.8 in July of 2020 from 81.4 in June and recovering further from a 35-year low in May. It was the highest reading since March, helped by improving global economic activity but remaining well below average due to rising local infections and the slow pace of the economy's reopening.

The South Africa's SACCI business confidence index sank to 77.8 in April of 2020 from 89.9 in March. This was the lowest reading since the series began in January of 1985, reflecting the economic impact of the first month of a strict lockdown which started on March 27 to limit the spread of the coronavirus disease. "Striking negative monthly impacts on the index were caused by the lower volume of merchandise exports, the weaker exchange rate of the rand, and less new vehicles sold – all mainly due to the lockdown,” SACCI said.

The South Africa's SACCI business confidence index decreased to 89.9 in March of 2020 from 92.7 in February. This was the lowest reading since August of last year, amid lower sales of new vehicles, a weaker rand exchange rate and lower share prices, mainly reflecting the impact of Covid-19 on the country's trading partners and on the domestic economy. At the end of March, a 21-day nationwide lockdown was imposed to contain the spread of the virus which impacted severely the domestic demand. The chamber said the decline did not yet fully reveal the extent of the coronavirus impact on the economy and the business climate while it expects the extraordinary situation would make it difficult to attend to structural economic matters in the short-term. "The long-term effects are not clear, but all efforts should be put in place not to create fear and panic and to put sound economic policy in place to ensure sustainable economic performance after Covid-19.”, Sacci added.