The South African Chamber of Commerce and Industry’s (Sacci’s) May Trade Conditions Survey found that expectations for trade activity six months hence were mirroring the uncertainty in the global market, and the expectations index subsided into negative territory, having lost 12 index points between April and May. "Only 48% of the respondents in May expected trade conditions to improve six months from now, compared with 59% in April. Declining sales volumes and fewer new orders are the main reason for the negative outlook," the chamber reported on June 23.
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