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The South Africa's SACCI business confidence index rose to 92.7 in November 2019, its highest level since June, from 91.7 in the previous month. Five of the thirteen sub-indices improved, four weakened while four remained unchanged. Main positive contributions came from the volume of exports and private sector credit. "The difficulty in decision-making aimed at the inevitable structural adjustments necessary to let the economy perform better, are still lacking. The effect of indecisiveness and the time lapses to taking action are going to impact critically on the economy and, therefore, business and investor confidence as year-end approaches," Sacci noted.

The South Africa's SACCI business confidence index decreased to 91.7 in October 2019 from 92.4 in the previous month. Six of the thirteen sub-indices worsened, five improved while two remained unchanged. The main negative contributions came from the impact of another round of rolling blackouts, lower export and import volumes, and currency exchange rate depreciation.

The South Africa's SACCI business confidence index rose to 92.4 in September 2019, its highest level since June, recovering from a 34-year low of 89.1 in the prior month. Seven of the thirteen sub-indices improved, three remained unchanged and three deteriorated. The main positive contributions came from export volumes, a stronger rand exchange rate against major trading currencies, new vehicles sales and an increase in the real value of building plans passed. "Apart from the SACCI BCI that suggests a possible about turn for the business climate in September 2019, there are indications that the economy may have hit a trough and could obtain some stability albeit at a subdued level," the business chamber said.

The South Africa's SACCI business confidence index fell to 89.1 in August 2019, its lowest level since August 1985, from 92.0 in the previous month. In August, seven of the thirteen sub-indices in the business confidence deteriorated, four improved, while two remained unchanged. The most negative contributors were export volumes, the exchange rate weighted against major trading and investment currencies, and share prices on the Johannesburg Securities Exchange.

The South Africa's SACCI business confidence index dropped to 92 in July 2019, after increasing marginally to 93.3 in the previous month. This was the worst reading since March, amid decreases in the sub-indexes of import and export volumes, manufacturing and new vehicle sales. "The high level of optimism that existed immediately after the election of President Cyril Ramaphosa, is being affected by indications that the ruling party is divided on policy, political and factional lines, on the basis that these divisions have a direct impact in government’s efficiency and effectiveness in implementing its policies and managing the fiscus,” said Sacci.

The South Africa's SACCI business confidence index rose slightly to 93.3 in June 2019 from 93.0 in the previous month, but still remained below levels seen a year ago, which adds to the risk that the economy could fall into its second recession since 2009. In general, investors see little progress in economic reforms since President Ramaphosa was reelected. In June, six of the thirteen sub-indices of the composite BCI improved on their May levels while three declined and four were unchanged.