The Chamber of Commerce and Industry (SACCI) says South Africa’s business confidence rose in July, with activity mainly supported by an increase in merchandise export volumes and retail sales as well as lower inflation.

SACCI’s monthly business confidence index (BCI) rose to 94 point seven in July from 93-point seven in June.

SACCI says there appears to be a return of confidence after a slump that followed the so called “Ramaphoria” period early this year.