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The SACCI Business Confidence Index (BCI) for September 2010 was released today at the SACCI Offices in Rosebank, Johannesburg.

The SACCI Business Confidence Index (BCI) increased by 0.2 points to 87.8 in September 2010 following gains of 3.3 points in August 2010. The BCI has been showing gradual quarterly improvements since the start of 2010. The pace at which the BCI gained momentum in 2010, accelerated in the third quarter.

When compared to September 2009, ten of the sub-indices of the BCI improved. Share prices and building construction were the only sub-indices of the BCI that were below last year's levels. New vehicle sales were roughly at the same level as in September 2009. On a month-on-month basis, nine sub-indices were positive in September 2010 and four were negative.

It is however important that the BCI should always be read with other economic data and with the accompanying economic commentary. There are a number of economic developments that are at odds with better business prospects such as declines in investor confidence. Further, ill-conceived demands for debate around drastic economic policy shifts contribute to confusion in the business environment and deter foreign investors. A comparison with South Africa's peer group also indicates that South Africa will have to address fundamental issues that are impeding its path to sustainable economic growth and job creation.

SACCI is concerned that what appears to be a burgeoning trend toward improvements in business confidence may be compromised if not supported by consistent policy messages and approaches. At this critical juncture, SACCI appeals to all economic stakeholders to Put South Africa First and jointly work towards a cohesive approach in positioning South Africa in the global economy.