Business confidence is slowly returning to the South African economy, according to the latest survey by the South African Chamber of Commerce and Industry (SACCI), which could mark a turnaround from the recent depressed conditions.

SAACI’s Business Confidence Index (BCI) increased to 81.9 in April, from the 78.9 points recorded in March. The index has continued to improve and then decline again in recent months.

“The improvement in the SACCI BCI for April 2009 could mark a turnaround that may still be slow and weak but which could pick up momentum towards year-end as the global economy revives,” said SACCI in a statement.

The chamber added that the major challenge for South African businesses at the moment is to anticipate, identify and prepare for the turnaround of the present economic slowdown.

It added that there are signs that a measure of optimism in global financial markets has emerged and that the worst is behind the global economy.