S.Africa’s April business confidence at 3-year low

South Africa’s business confidence index dropped to a 3-year low of 94.3 in April from 95.7 in March, the South African Chamber of Commerce and Industry said on Thursday, adding high household debt is a growing concern in an unstable business environment.

“The current trend in the BCI that started in April 2011 can be ascribed to a deterioration in both the global and domestic business climates,” SACCI said in a statement.

“With high and rising unemployment and available household resources under stress, the expectation that household consumption expenditure should spark the economic recovery grows weaker,” it added.

Reuters.