Economics
South Africa Consumer Confidence Improves to a Five Year High
- Consumer confidence index rises to -5 vs -10 in second quarter
- Sentiment aided by political stability following May election
Shoppers at a mall in Johannesburg.
Photographer: Leon Sadiki/BloombergThis article is for subscribers only.
South African consumer confidence surged in the third quarter to pre-pandemic levels, driven by increased optimism about personal finances which bodes well for household spending.
A quarterly index measuring consumer sentiment compiled by FirstRand Ltd.’s First National Bank and Stellenbosch University’s Bureau for Economic Research climbed to -5 in the three months through September from -10 in the previous quarter. It was the highest reading since the first half of 2019.