South Africa’s Business Mood Steadies Despite Ongoing Iran War

South African business sentiment held steady in September, buoyed by strong precious-metal prices and a resurgence in tourism and car sales. Despite these positive signs, businesses are wary of inflationary pressures driven by high oil prices. The stability amidst the backdrop of an ongoing war in Iran underscores the resilience of the South African economy, though ongoing global uncertainties could still pose risks. For context, South Africa's economy is closely tied to global commodity prices and geopolitical stability.