Economics
S. African Consumer Confidence Worsens on Ukraine War
- First-quarter consumer confidence index falls to -13 from -9
- Economic ramifications from war in Ukraine have dampened mood
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South African consumer confidence weakened in the first quarter on concern about the economic ramifications of the war in Ukraine.
A quarterly index measuring sentiment fell to -13, from -9 in the previous three-month period, FirstRand Ltd.’s First National Bank said in an emailed statement Thursday. That’s the lowest since the second quarter of 2021, when the government temporarily suspended a welfare grant to individuals affected by the fallout from the coronavirus pandemic and tightened lockdown restrictions to slow the spread of the Delta variant of the disease.