Consumer confidence in South Africa plunged to -33 in the second quarter of 2020 from -9 in the prior period, reflecting the impact of movement restrictions imposed by a nationwide lockdown to curb the spread of the novel coronavirus which started to be lifted during May. Declines were seen in the economic outlook index (-21 from -16 in Q1) and household financial outlook (-13 from 14). Also, the sub-index measuring the appropriate time to buy durable goods plunged to a record low (-64). That was the lowest reading since the second quarter of 1985 when the country faced a partial state of emergency due to violent resistance against apartheid.
Consumer Confidence in South Africa averaged -0.70 points from 1982 until 2020, 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 2020. source: Bureau for Economic Research (BER)
Consumer Confidence in South Africa is expected to be -18.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in South Africa to stand at 2.00 in 12 months time. In the long-term, the South Africa Consumer Confidence is projected to trend around 6.00 points in 2021 and 8.00 points in 2022, according to our econometric models.