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.
Coincident Index in South Africa averaged 108.31 points from 1985 until 2020, reaching an all time high of 141.17 points in December of 2006 and a record low of 77.80 points in April of 2020. This page provides - South Africa SACCI Business Confidence Index- actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa SACCI Business Confidence Index - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: South African Chamber of Commerce and Industry (SACCI)
Coincident Index in South Africa is expected to be 72.00 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 90.70 in 12 months time. In the long-term, the South Africa SACCI Business Confidence Index is projected to trend around 91.70 points in 2021 and 92.00 points in 2022, according to our econometric models.