The South Africa's SACCI business confidence index rose to 93.1 in December 2019 from 92.7 in the previous month. It is the highest reading in six months as 13 sub-indices improved, three weakened and six were broadly unchanged. However, the economy's potential is wavering and requires positive corrective steps and extensive power cuts continue to hurt confidence. Coincident Index in South Africa averaged 108.50 points from 1985 until 2019, reaching an all time high of 141.17 points in December of 2006 and a record low of 88.12 points in April of 1985. source: South African Chamber of Commerce and Industry (SACCI)
Coincident Index in South Africa is expected to be 91.70 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 92.60 in 12 months time. In the long-term, the South Africa SACCI Business Confidence Index is projected to trend around 93.10 points in 2020, according to our econometric models.
South Africa SACCI Business Confidence Index
In South Africa, the SACCI Business Confidence Index reflects the neutral sentiment in the market place, as it captures the prevailing business climate and what businesses are experiencing. The index is composed by thirteen sub-indices, including energy supply, manufacturing, exports, imports, vehicle and retail sales, construction, inflation, share prices, private sector borrowing, financing cost, precious metal prices and exchange rate.