JOHANNESBURG (Reuters) – South Africa’s business confidence remained subdued in June due to labour unrest which has hurt an already fragile economy, a survey by the South African Chamber of Commerce and Industry showed on Tuesday.
The Sacci business confidence index edged up slightly to 89.7 in June from 88.9 in May, but was still below the 90 mark that separates negative sentiment from positive.
“Sacci is concerned that the broader unintended consequences associated with strike activity … is going to have a lasting impact not only on business confidence but on investor confidence and financial stability,” the business body said.
