Trade conditions came under further pressure in November 2015 as the South African Chamber of Commerce and Industry (Sacci) seasonally adjusted Trade Activity Index (TAI) fell to 42 compared to 47 in October 2015.
The November 2014 TAI stood at 61 reflecting usual high volumes of business-to-business trade this time of year before closing for the holiday period.
According to Sacci, foreign export volumes declined to well below their longer-term trend lines. “The higher interest rates and the weaker rand exchange rate further restrained trade,” said senior Sacci economist, Richard Downing.
He noted that trade expectations for the next six months remained lacklustre.
