/ 11 November 1999

BUSINESS CONFIDENCE HITS HIGH

THE South African Chamber of Business said on Tuesday that its Business Confidence Index continued its rise in October and now sits above the level as at the start of the 1998 crisis. Sacob said that the index of 104,3 for October is now above the level as at the start of the 1998 crisis and is at about the same level as in mid 1996 the period in which the Growth, Employment and Redistribution (GEAR) Strategy was adopted by government as its economic policy framework. At that stage business confidence reflected renewed hope, positive sentiment, expectations and the economic performance of the South African economy.