Business confidence shed 5.7 index points in November dropping to 82.7 index points.
The SA Chamber of Commerce and Industry says this was also 8.1 points below the Business Confidence Index of November last year.
Sacci said in a statement Thursday that the November BCI confirms that the business environment and economic policy need consistency and long-term commitment to bring about a meaningful turnaround.
The national business chamber said the domestic economy performed below potential and with the world economic outlook below expectations.
"The November 2015 month-on-month changes in the SACCI BCI sub-indices were more discouraging than the changes in October 2015 with four of the thirteen sub-indices positive, five undecided and four negative. The comparative year-on-year business climate again compared particularly negatively with November 2014," Sacci said.
"Notwithstanding lower inflation, and unchanged municipal utility services and real private sector borrowing compared to November 2014, all the other sub-indices performed worse than a year ago. Real economic activity as well as financial circumstances were in a worse situation than in November 2014."
"Developments on the geo-political front not only highlighted matters of common interest, but also affected the economies of notably Europe and global financial markets and their interaction in a global context. Conversely, there are early signs of more steadiness and expectations of an improving world economy. The Chinese growth will probably reach 7% in 2015 according to an official announcement while the Indian economy is expected to experience accelerated growth."
"Locally the credit ratings and the interest rate decisions in the United States could have an important impact on the wavering South African economic landscape. Recent developments of a global geo-political nature brought more uncertainty to the world economy. However, there are signs in the USA and India that some countries might provide traction for the rest of the global economy to move ahead. South Africa has to urgently deal with a policy approach that could take advantage of such positive developments."
