MOPE-spotting

Spot the positive MOPE-spin in the financial media’s coverage of today’s data release, the SACCI Business Confidence Index…

First, the official release from SACCI:

PRESS RELEASE-BUSINESS CONFIDENCE INDEX

Tuesday, 05 April 2011 09:32

Business Confidence Gains

The BCI is 5.1 index points higher than a year ago and is at its highest level since September 2008 when the BCI stood at 89.9.  Only two of the seven real economic activity sub-indices were positive i.e. retail trade and building activity.  The financial environment remained conducive to a positive business climate in the short-term.  Threats to the positive outlook in the financial environment include new risks in the global economic environment, commodity price movements and geo-political instability.

And then the release from Reuters:

11:30 05Apr11 RTRS-S.AFRICA’S MARCH BUSINESS CONFIDENCE INDEX RISES TO 88.3 FROM 86.4 IN FEBRUARY – SACCI

11:30 05Apr11 RTRS-S.Africa’s business confidence rises to 88.3 in March – SACCI

JOHANNESBURG, April 5 Reuters) – South Africa’s business confidence index jumped to a 30-month high of 88.3 in March from 86.4 in February, the South African Chamber of Commerce and Industry (SACCI) said on Tuesday.  The BCI is now at its highest level since September 2008 when it hit 89.9, and SACCI said the financial environment remained conducive to a positive business climate in the short-term.  Threats to the positive outlook included new risks in the global economic environment, commodity price movements and geo-political instability.

Reporting by Stella Mapenzauswa

Did you see that?  Sneaky, isn’t it?  By excluding the negative aspect of the report, the financial media has been effective in talking up the economy to those analysts who aren’t MOPE-watching.

Find the HA MOPE dictionary here and the full SACCI release here.