South Africa Business Confidence
OECD standardised business confidence indicator (long-term average = 100).
Business Confidence in South Africa decreased to 99.51 points in Sep 2026 from 99.55 points in Aug 2026.
South Africa Business Confidence — History
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South Africa Business Confidence — analysis in simple words
Latest reading
Business Confidence in South Africa decreased to 99.51 points in Sep 2026 from 99.55 points in Aug 2026.
It has fallen in each of the last three months.
Recent trend
A year earlier (Sep 2025) it was 99.69, so the latest figure is 0.17 lower.
Over the past five years the average was 99.61, with a range from 98.64 to 100.31. The latest value is below that five-year average.
Historical context
This data series starts in Jun 1974 and has 628 monthly observations. The latest reading is higher than 44% of all of them.
The highest value on record is 104.78 (Nov 1980) and the lowest is 96.66 (Jun 2020). The long-run average is 100.00.
Compared with other countries
Among 45 economies with recent data, South Africa ranks 30th from the top. The median across all these economies is 99.98, so South Africa is below the typical country.
Among 17 major economies tracked on this site it ranks 11th.
Statistics
- Latest
- 99.51Sep 2026
- Previous
- 99.55
- 5-year average
- 99.61
- Long-run average
- 100.00since Jun 1974
- All-time high
- 104.78Nov 1980
- All-time low
- 96.66Jun 2020
- Observations
- 628Monthly
Recent Data
| Period | Value | Change |
|---|---|---|
| Sep 2026 | 99.51 | ▼ −0.04 |
| Aug 2026 | 99.55 | ▼ −0.06 |
| Jul 2026 | 99.61 | ▼ −0.11 |
| Jun 2026 | 99.72 | ▼ −0.20 |
| May 2026 | 99.92 | ▼ −0.22 |
| Apr 2026 | 100.13 | ▼ −0.16 |
| Mar 2026 | 100.29 | ▼ −0.02 |
| Feb 2026 | 100.31 | ▲ +0.08 |
| Jan 2026 | 100.23 | ▲ +0.13 |
| Dec 2025 | 100.10 | ▲ +0.16 |
| Nov 2025 | 99.95 | ▲ +0.15 |
| Oct 2025 | 99.80 | ▲ +0.11 |
| Sep 2025 | 99.69 | ▲ +0.03 |
| Aug 2025 | 99.65 | ▼ −0.03 |
| Jul 2025 | 99.68 | ▼ −0.08 |
| Jun 2025 | 99.76 | ▼ −0.13 |
| May 2025 | 99.90 | ▼ −0.15 |
| Apr 2025 | 100.05 | ▼ −0.12 |
| Mar 2025 | 100.17 | ▼ −0.06 |
| Feb 2025 | 100.23 | ▲ +0.00 |
| Jan 2025 | 100.22 | ▲ +0.08 |
| Dec 2024 | 100.15 | ▲ +0.16 |
| Nov 2024 | 99.98 | ▲ +0.20 |
| Oct 2024 | 99.78 | ▲ +0.19 |
| Sep 2024 | 99.59 | ▲ +0.14 |
| Aug 2024 | 99.45 | ▲ +0.12 |
| Jul 2024 | 99.33 | ▲ +0.12 |
| Jun 2024 | 99.21 | ▲ +0.14 |
| May 2024 | 99.06 | ▲ +0.14 |
| Apr 2024 | 98.92 |
Business Confidence — South Africa vs Peers
Latest available reading for each economy (periods may differ). South Africa highlighted.
More South Africa indicators
Understanding Business Confidence — a simple guide
What it measures
The OECD standardised business confidence indicator, based on surveys asking companies about production, orders and stocks.
How it is calculated
Survey answers from businesses are combined and standardised by the OECD so that 100 equals the long-term average.
A reading of 101.5 means businesses are somewhat more optimistic than their long-run norm.
High confidence often comes before more investment and hiring.
Low confidence often comes before cuts in production and investment.
Why it matters for the economy and markets
Confident businesses tend to invest and hire more, so this survey often moves ahead of actual production and employment data.
How to read it
100 is the long-term average. Values above 100 mean companies are more optimistic than usual; below 100, more pessimistic.
What to look at alongside it
Industrial production, PMI-type surveys and the leading indicator.
Key terms
- Survey indicator
- Based on opinions of managers rather than measured output.
Data source
OECD — Organisation for Economic Co-operation and Development (series OECD business confidence (BCI)), monthly data from Jun 1974 to Sep 2026. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current business confidence of South Africa?
What is the highest and lowest business confidence of South Africa?
What does business confidence measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.