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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa SACCI Business Confidence fell to 123.5 in July 2026
FMPMonthlyReleased August 2026
South Africa SACCI Business Confidence fell to 123.5 in July 2026, released August 2026, down 0.6 from June's 124.1 reading. The reading matched the 125 consensus. Year-over-year, the indicator is up 6.8. Over the past 3 months, SACCI Business Confidence averaged 123.6, vs 132.95 in the prior 3-month window. SACCI Business Confidence is now the lowest in 8 months.
Latest Release
123.5
Actual
125
Consensus
124.1
Previous
Median Absolute Error
±4.04
across last 12 releases
Last Call
Aug 2026
Predicted: 121.3
Actual: 123.5
Error: -2.2
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.82 | COMMODITIES | Moves with | → View |
| BTC/USD | ▼ Inverse | −0.80 | CRYPTO | Moves against | → View |
| EUR/USD | ▲ Direct | +0.70 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
SACCI Business Confidence (South Africa) was reported at 123.50 in August 2026. This missed the market consensus of 125.00 by 1.50. The reading fell from the previous value of 124.10. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 124.20, ranging from 120.00 to 133.20 across 6 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 126.77, up from the prior three at 121.63. Volatility over the past year (σ 4.27) is comparable than the prior year (σ 4.23). In August readings over the past 3 years, SACCI Business Confidence has averaged 116.48.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with BTC/USD, negatively correlated (Bearish BTC). Over the last 12 releases, the Sigmacast model's median absolute error is 4.04.
WHAT TO WATCH NEXT
The next release is scheduled for October 14, 2026. Same-country events in the next 14 days include Inflation Rate MoM (Sep 23) and Inflation Rate YoY (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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SACCI Business Confidence - ZA
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About SACCI Business Confidence — South Africa
DEFINITION
SACCI Business Confidence is a widely recognized financial indicator that measures the overall sentiment and outlook of businesses in South Africa. It is based on a survey of business leaders and provides valuable insights into the current and future economic conditions of the country. This indicator is closely monitored by investors, policymakers, and analysts as it can indicate potential changes in business activity and economic growth. A high SACCI Business Confidence reading is typically associated with a strong and stable economy, while a low reading may signal potential challenges or downturns.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 125.4, consensus 123.8. Prior reading (Jun 2026): 123.5. Before that (May 2026): 124.1.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with XAU/USD (Bullish XAU, r=0.82) — a useful reference for commodities-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - ZA Events
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | ZA | Inflation Expectations | 4.2 | 4.4 | 4.40 | Low | |
| 11:00 | ZA | Retail Sales MoM | -0.6 | 0.7 | 1.65 | Low | |
| 11:00 | ZA | Retail Sales YoY | 1.6 | -3 | -2.70 | Low | |