South Africa’s business confidence plunges to lowest level in 34 years ...News

Russia Today - News
South Africa’s business confidence plunges to lowest level in 34 years
source : Russia Today ( News ) () 23
A sentiment index compiled by the South African Chamber of Commerce and Industry (SACCI) declined to 89.1 last month from 92 in July. That’s the lowest level since April 1985, according to the survey. Weak economic growth, a sharp drop in export volumes and a weaker currency, rising debt and an unemployment rate of 29 percent continued to hurt the nation. According to central bank data, Africa’s most-industrialized economy – which has dodged a second recession in as many years – is stuck in its longest downward cycle since 1945. Also on rt.com South Africa’s economic & socia

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