The South African Chamber of Commerce and Industry (SACCI) Business Confidence Index declined slightly to 93.4 in April 2008 after measuring 93.9 in March 2008.

"Although this is the lowest level thus far in 2008, the pace of decline in the BCI appears to have slowed," noted SACCI.

The BCI has dropped by 8.5 index points, or 8.3 percent, since April 2007 and the average for the SACCI BCI in the first four months of 2008 is 93.8 compared with the average of 100.9 in the first four months of 2007.

"The SACCI BCI appears to have become somewhat sticky around the level of 94. With no clear direction from the global economy, uncertainty surrounding the Zimbabwe outcome as well as lost domestic economic momentum, the BCI tends to reflect strains in the economy and uncertainty on direction," said the Chamber.

"Strong relative price adjustments on a global scale on basic items such as food and crude oil further complicate decision-making by business and exert increasing pressures," concluded SACCI.

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