South African business confidence surged to its highest level since 2011 in November, boosted by a tourism boom.<\/p>\n
A measure of sentiment compiled by the South African Chamber of Commerce and Industry rose to 132.3 in November from 123.8 in the previous month.<\/p>\n
\u201cBy far the most positive short-term impact on business sentiment in November came from the substantial increase of overseas tourists,\u201d the business lobby group said in a statement on Thursday.<\/p>\n
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The release adds to other positive data suggesting that Africa\u2019s largest economy is regaining momentum, including consumer sentiment advancing in the fourth quarter to the highest level for 2025, in an encouraging sign for household confidence heading into the holiday season.<\/p>\n
Read:
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Consumer confidence rises in Q4<\/p>\n
Still, Sacci warned that the November data should be viewed with circumspection.<\/p>\n
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Despite the increase in overseas tourism, there are some important physical economic activities that are lagging and represent a slow-growing economy in need of investor confidence and fixed investment, it said.<\/p>\n
\u201cThe current BCI level may, however, inspire structural economic policy adjustments that could attract local and foreign capital to support higher economic growth, employment and inclusion to share in value added and wealth creation,\u201d the chamber said.<\/p>\n
\u00a9 2025 Bloomberg<\/p>\n
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