FX.co ★ South Africa Business Sentiment Improves Slightly in May: SACCI

The South African Chamber of Commerce and Industry (SACCI) business confidence index edged up to 124.1 in May from a seven-month low of 123.6 in April. The rebound was largely driven by higher new vehicle sales and stronger merchandise exports, with imports providing a smaller boost as firms adjusted to the oil price shock stemming from the conflict in the Middle East. In contrast, SACCI highlighted that a drop in overseas tourist arrivals weighed heavily on the index, while persistent inflation pressures remained a key concern for businesses.