South African Consumer Confidence Improves On Brighter Economic Prospects
- Quarterly index measuring consumer sentiment climbs to -16
- Households buoyed by fewer power outages over survey period
Pedestrians pass a grocery store in the Randburg Central Business District of Johannesburg, South Africa.
Photographer: Michele Spatari/BloombergThis article is for subscribers only.
South African consumer confidence rebounded in the third quarter on perceptions that the economic outlook is improving, after inflation eased, growth surprised on the upside and the economy created more jobs.
A quarterly index measuring consumer sentiment climbed to -16 in the three months through September from -25 in the previous quarter, FirstRand Ltd.’s First National Bank said in an emailed statement on Thursday. Despite the improvement, consumers’ willingness to spend wasn’t matched by an ability to spend, with the outlook for their household finances not changing much.