Business confidence recovered slightly in February with the index measuring 94, up from a four-year low of 93,8 in January, the South African Chamber of Commerce and Industry (SACCI) said on Wednesday.
Although there was a slight improvement, SACCI warned that overall business conditions, domestic and globally, were likely to remain under pressure in the short and medium term.
”The slight improvement in February came about through unintended and isolated developments. It does not necessarily indicate a turnaround or the commencement of an upward trend in global or domestic economic conditions,” SACCI said.
”This present levelling off in the BCI [business confidence index] should not be regarded as the launch of a new wave of business confidence,” it added. — Sapa