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Assessing and promoting civil and minority rights in South Africa.

[Source: Business Day by Claire Bisseker.]

The recent rally in the rand has not been enough to stem a slide in business confidence, which again fell in June, stoking fears that the South African economy continued to underperform in the second quarter.

The rand has gained 2.59% on the dollar in July but is still down more than 8% in 2018. It lost 16% in the second quarter to end-June, after gaining 4.5% in the first. The South African Chamber of Commerce and Industry (Sacci) business confidence index (BCI) released on Tuesday slipped slightly from 94.0 in May to 93.7 June — the worst reading in eight months.

The BCI has declined each month from a high of 99.7 index points in January 2018. It dropped by a further two index points between April and May to 94 index points, mainly because of lower merchandise import and export volumes.

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South Africa at a Glance
57 700 000 (mid 2018 estimate)
4.9% y/y in September 2018 (CPI) & +6.2 y/y in September 2018 (PPI)
-0.7% q/q (2nd quarter of 2018)
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