South Africa's rand was weaker on Thursday on lingering economic weakness highlighted by the country's current account deficit and business confidence data.

By 1545 GMT the rand was down 0.6% at 14.6820 per dollar from an overnight close of 14.6020.

Data from the central bank on Thursday showed the country's current account deficit has narrowed slightly but less than expected, while a measure of monthly business confidence showed businesses are still struggling with the tough economic climate and slack demand.

Earlier in the week, a reading from the statistics agency showed the economy shrank 0.6% in the third quarter, raising concerns that the country could lose its last investment-grade credit rating from Moody's.

In equities, the benchmark JSE Top-40 Index slipped 0.5% to 48,589.71 points while the broader All-Share Index was down 0.4% at 54,779.76 points.

Eskom implemented further power cuts on Thursday after a number of generating units broke down.

Services, trading, and distribution group Bidvest dropped 2.2% to 192.70 rand while retailer Mr Price Group declined 1.9% to 179.60 rand.