South Africa business sentiment worsens further in October.

By bne IntelliNews November 4, 2011
The South African Chamber of Commerce and Industry (SACCI) said its Business Confidence Index fell to 97.5 points in October from 98.4 points in the previous month. The index declined for a fourth straight month to its lowest level since May 2010, showing that the loss of business confidence has been more severe than anticipated. The real economic environment on balance has positively affected business confidence in October 2011 compared to October 2010 as four of the seven sub-indices were in positive territory. The financial environment maintained a stable position compared to October 2010, but the depreciation of the weighted rand exchange rate and its volatility are cause for concern, SACCI said in a statement. The chamber added that among the indicators that worsened since last October were consumer and producer price inflation, sluggish household and business borrowing, lower stock prices, and weaker rand, which had both positive and negative consequences for global trade and investment.

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