The FNB/BER Consumer Confidence Index for South Africa plunged to -25 in the second quarter of 2022 from -13 in the previous period and well below the long-term average of +2. It was the lowest reading since the first quarter of 1986, suggesting a marked slowdown in consumer spending in coming months due to worsening global economic conditions. There was a sharp deterioration in both the economic outlook sub-index (-39 vs -18 in Q1) and in the household financial outlook sub-index (-5 vs 8). The index measuring the appropriateness of the present time to buy durable goods like cars, furniture, and electronic goods etc. also edged down (-32 vs -28), indicating that consumers consider the present as an inappropriate time to purchase durable goods. "Even though consumers are likely to tighten their purse strings, the surprisingly large fall could signify somewhat of an over-reaction and may not translate into an equally large contraction in consumer spending", the survey said. source: Bureau for Economic Research (BER)
Consumer Confidence in South Africa averaged -1.37 points from 1982 until 2022, reaching an all time high of 26 points in the first quarter of 2018 and a record low of -36 points in the second quarter of 1985. This page provides the latest reported value for - South Africa Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Africa Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Consumer Confidence in South Africa is expected to be -25.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Consumer Confidence is projected to trend around 3.00 points in 2023 and 6.00 points in 2024, according to our econometric models.