South Africa: Data Likely to Paint Dismal Picture of Economy

12 January, 2009 in South Africa

source: allAfrica
Business Day (Johannesburg)
Mariam Isa
12 January 2009

Johannesburg — NEW year optimism is likely to fade a bit in local markets this week, despite the absence of official data widely expected to paint a dismal picture of the economy in the first half of this year.

A confidence index due from the South African Chamber of Commerce and Industry (SACCI) tomorrow will probably show a dip in the mood of business last month, says the body’s CEO, Neren Rau.

“If we get an uptick, the reason would be some positive developments over the festive season, when markets recovered somewhat,” he told Business Day. “I don’t expect a dramatic improvement and a pickup would be more of an anomaly than an established trend.”

In November, the SACCI business confidence index (BCI) edged up two index points to 86,7, after diving to 84,2 in October. The index monitors the business climate through [continue reading]