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South Africa Business Mood at Four-Month High on Tourism Boost

  • Confidence index rose to 110.3 in July, from 108.5 in June
  • Improvement signals business climate returning to normality
Tourists watch wildlife in Kruger National Park, South Africa.

Tourists watch wildlife in Kruger National Park, South Africa.

Photographer: Michee Spatari/AFP/Getty Images

An index measuring South African business sentiment rose to a four-month high in July as tourism numbers and new vehicle sales increased. 

The South African Chamber of Commerce and Industry business confidence index rose to 110.3, from 108.5 in June, and the reference year was adjusted to 2020 to account for the latest trends in the economy and financial markets, the group said Wednesday in an emailed statement. That’s the highest level since March and may signal the business climate is gradually returning to normality, SACCI said.