South Africa business confidence declines in April: survey

May 5, 2011, 12:48 GMT

Johannesburg - South African Business confidence slipped in April, the country's Chamber of Commerce and Industry (SACCI) said Thursday.

'The significantly high number of youth unemployment is especially disturbing,' SACCI added.

Government figures released this week showed unemployment rose slightly in the first quarter, pushing the figure up to 25 per cent.

President Jacob Zuma is under pressure to boost work opportunities and has promised to create 5 million new jobs by 2020, reducing unemployment to about 15 per cent.

The Business Confidence Index stood at 86.9 in April, down 1.4 points from 88.3 in March, and there was a 'lack of sustainable momentum and a clear direction in business confidence.'

This comes on the back of a more volatile global economic environment, including lower than expected economic growth and rising inflation concerns, SACCI said.