JOHANNESBURG, Oct 11 (Businesshala) – South African trade confidence fell in September compared to August, as retail sales and manufacturing output declined, data showed on Monday.
The Monthly Business Confidence Index (BCI) of the South African Chamber of Commerce and Industry (SACCI) declined to 91.0 in September from 91.9 in August.
“Low retail sales volume, low manufacturing output and the decline in the real value of passed building plans were detrimental to the business environment in September 2021,” SACCI said in a statement.
“Energy and water supply concerns and higher fuel prices were also major contributors to a careful business outlook. Secure energy supply remains a significant concern for the business community in general.”
State power firm Eskom, which has been mired in a financial crunch, said last week it would extend scheduled power cuts till Thursday following a series of additional faults at its coal-fired power stations.
Power cuts are making it difficult for the economy, which faced a massive contraction of 6.4% in 2020 due to the COVID-19 pandemic, to recover.