S.Africa Feb business confidence index up at 99.5: SACCI

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JOHANNESBURG – Business confidence in the South African economy improved to 99.5 index points in February, the highest level on the business confidence index since June 2011, the South African Chamber of Commerce and Industry said on Wednesday.

The February increase, from 97.1 in January, could mark the start of improved economic prospects “if the policy and labour environments become more conducive to such improvements,” the business grouping said.

While SACCI gave a nod to Finance Minister Pravin Gordhan’s infrastructure expenditure plans outlined in the budget, it warned continued strikes at platinum mines and higher oil prices were weighing on confidence.