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SA business confidence could be on the mend - economist

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Cape Town - There are signs that business confidence in South Africa could be on the mend, SA Chamber of Commerce and Industry (Sacci) economist Richard Downing told Fin24 on Monday.

He said a turnaround in the Sacci Business Confidence Indices (BCIs) in June and July this year might indicate that the decline in business confidence in the country has been stemmed. However, at the same time he cautioned that the annual BCI comparison does not indicate any material change in the subdued business climate in the real economy, or the tight financial environment of a year ago.

As for the possible impact on business confidence of the ongoing strike by the Chemical Energy Paper Printing Wood and Allied Workers Union, already in its second week, Dowling said this will likely only be reflected in the Sacci BCI for August.

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