This article may contain graphic and/or adult content unsuitable for minors and sensitive readers.
The SA Chamber of Commerce and Industry says business confidence ticked up marginally in January.
Sacci said today that its business confidence index moved marginally from 93 to 94 index points between December and January.
Chamber economist Richard Downing says with the index set at 100 in 2010, and the record high of 122.1 being achieved in December 2006, the current level of business confidence remains far from desirable.
However, Downing told Algoa FM News that positive contributions to business confidence on both a monthly and an annual basis were made by manufacturing, construction and new vehicles sales.
"Dramatic response measures will be necessary to restore trust and predictability to the business environment. The business environment experienced a difficult period in January 2013, but despite the ongoing labour protest activity, business confidence carried forward the positive momentum from the end of last year," he said.
"Further interventionism in the economy, contemplated by the state, fuelled policy uncertainty. Various recent announcements by government spokespersons against the mining industry were poorly timed and constructed given the need to urgently attract investment into this industry. The resilience of the private sector, despite developments that tarnished South Africa's attractiveness as an investment destination, mitigated a contraction in business confidence."
"Emerging market and developing economies continue to be regarded as the driving force for world economic growth in 2013. By fostering fixed investment and an improved business climate, South Africa could benefit substantially from global investor and trade interest," he said.
