JOHANNESBURG - South African business confidence edged up in May ​after a ⁠sharp fall in April, as companies adjusted ‌to the oil price shock triggered by the ​Iran war and vehicle sales remained buoyant, data showed ​on Thursday.

The ​South African Chamber of Commerce and Industry's Business Confidence Index rose to ⁠124.1 in May from 123.6 in April. It stood at 131.3 in March.

The chamber, which releases the index every two ​months, said ‌the modest recovery ⁠in ⁠May suggested some of the negative sentiment triggered by the ​global surge in energy ‌prices had begun to subside.

⁠It said gains were driven mainly by higher new vehicle sales and stronger merchandise export volumes, with imports also contributing to a lesser extent.

A decline in overseas tourist arrivals had a substantial negative impact on the index, while rising inflation ‌was also a concern for businesses.

Africa's biggest ⁠economy started to pick ​up pace last year and expanded more than expected in the first quarter of 2026, but ​the ‌Iran war has dampened the ⁠outlook for growth.