SACCI PRESS RELEASE – BUSINESS CONFIDENCE INDEX (BCI) FOR JANUARY 2020
Wavering Business Confidence
The SACCI Business Confidence Index (BCI) declined by 0.9 index point to 92.2 in January 2020 and was 2.9 index points lower than in January 2019. The 93.1 of December 2019 was the highest BCI level since the 93.3 of June 2019 and the latest figures suggest that business confidence still finds it difficult to gain momentum.
Intra-month changes in the business climate were notable in January 2020. The rand depreciated towards month-end, and share prices and commodity prices like that of crude oil and precious metals, changed considerably. Six of the thirteen sub-indices of the BCI improved on their previous month readings compared to four in December 2019, five were negative, and two remained unchanged