Registered users can save articles to their personal articles list. Login here or sign up here

South African consumer confidence dips to weakest since 2017

As expectations of an economic recovery dim.

South African consumer confidence declined to its lowest level in more than a year in the first quarter as expectations of an economic recovery dimmed.

The consumer-confidence index was at 2 in the first three months of this year, dropping from 7 in the previous quarter, FirstRand’s First National Bank retail-lending unit said in an emailed statement on Wednesday. While a net majority of consumers remain positive, the gauge is at its lowest level since the final three months of 2017 and well off the record high of 26 when Cyril Ramaphosa took over as president a year ago.

“For the first time in just more than a year, consumers do not expect South Africa’s economic prospects to improve over the next 12 months,” it said.

© 2019 Bloomberg L.P

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Or choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be suspended at any time.

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company:
server: 172.17.0.2