S. African Consumer Mood Darkens as Lack of Jobs, Taxes Bite

South African consumer confidence fell in the third quarter as middle-income household finances came under strain amid higher personal income taxes and the fading impact of early pension fund withdrawals.

A quarterly index measuring consumer sentiment declined to -13 in the three months through September from -10 in the previous quarter, FirstRand Ltd.’s First National Bank said in an emailed statement on Thursday.