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South Africa's business confidence index rises to 93.9 in November

Reuters
A woman works at a clothing factory at the industrial town of Newcastle, 260 km (162 miles) southeast of Johannesburg May 8, 2013. REUTERS/Jon Herskovitz/File Photo (Reuters)

JOHANNESBURG (Reuters) - Business confidence in South Africa rose to its highest in four months in November, helped by improvements in new vehicle sales and manufacturing output, a survey showed on Wednesday. The South African Chamber of Commerce and Industry's (SACCI) monthly business confidence index (BCI) rose to 93.9 in November, its highest reading since August, from 93.0 in October. "Positive monthly contributions to the BCI mainly came from real value of building plans passed, new vehicle sales (seasonally adjusted) and manufacturing output," SACCI said. "Notwithstanding the volatility in the business climate, the present turnaround in the BCI could gather more momentum." (Reporting by Olivia Kumwenda-Mtambo; Editing by Catherine Evans)