2/8/2012 4:52 AM ET
(RTTNews) - South Africa's business confidence deteriorated in January, after improving in the previous month, data from a survey by the South African Chamber of Commerce and Industry (SACCI) showed Wednesday.
The business confidence index dropped to 97.1 in January from 99.1 in December, which was higher than 97.4 recorded in November. The latest figure was the lowest since May 2010, when the reading was 96.7.
Six of the sub-indexes were negative in January, contributing to the deterioration of the headline. Only two of the seven sub-indexes had a positive impact on the businesses confidence index.
Various challenges cloud the economic and business outlook for 2012, including lower economic growth, unemployment, higher inflation and weak municipal service delivery, the agency said.
by RTT Staff Writer
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