SOUTH African business group urged the government to speed up reforms and policy changes to strengthen confidence and boost an economy that was in a recession even before the Covid-19 pandemic hit the country.
The South African Chamber of Commerce and Industry’s business-confidence index rose to 93.4 in November from 92 the previous month, it said in an email. It released both the October and November data on Wednesday. The BCI is still below its average of 102.5 in the decade preceding the latest figures.
The gauge plunged to 70.1 at the height of lockdown restrictions in May, the lowest level since its inception. Limitations on the movement of goods and people helped drag the economy into its longest recession in almost three decades. While gross domestic product returned to annualized growth in the third quarter, output is still down from a year earlier.
“It has become clear that structural
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