The FNB/BER Consumer Confidence Index for South Africa jumped to -5 in the third quarter of 2024, from -10 in the previous three-month period. Although the latest reading remains slightly below the long-term average of the CCI, which has been at zero since 1994, it marks the highest level of confidence since the first half of 2019. "A confluence of positive developments has bolstered the confidence levels of South Africa's more affluent consumers over the last six months," FNB Chief Economist Mamello Matikinca-Ngwenya said. Besides the slowdown in inflation and an expected interest rate cut in September, factors such as the formation of a national unity government, the absence of load-shedding, a stronger rand, and significant fuel price reductions have all played a role in boosting consumer confidence. "Moreover, the implementation of the two-pot retirement system on Sept. 1 now allows consumers access to a portion of their retirement savings," Matikinca-Ngwenya added source: Bureau for Economic Research (BER)

Consumer Confidence in South Africa increased to -5 points in the third quarter of 2024 from -12 points in the second quarter of 2024. Consumer Confidence in South Africa averaged -2.12 points from 1982 until 2024, reaching an all time high of 26.00 points in the first quarter of 2018 and a record low of -36.00 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 November of 2024.

Consumer Confidence in South Africa increased to -5 points in the third quarter of 2024 from -12 points in the second quarter of 2024. Consumer Confidence in South Africa is expected to be -5.00 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 -10.00 points in 2025 and -7.00 points in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-06-27 08:00 AM
Consumer Confidence
Q2 -12 -15 -18
2024-09-17 08:00 AM
Consumer Confidence
Q3 -5 -10 -10
2024-12-04 08:00 AM
Consumer Confidence
Q4 -5 -6


Related Last Previous Unit Reference
Prime Overdraft Rate 11.25 11.50 percent Nov 2024
Consumer Confidence -5.00 -10.00 points Sep 2024
Consumer Spending 3133096.00 3089260.00 ZAR Million Jun 2024
Disposable Personal Income 4681981.00 4606815.00 ZAR Million Jun 2024
Gasoline Prices 1.19 1.55 USD/Liter Oct 2024
Households Debt to GDP 34.60 34.40 percent of GDP Mar 2024
Households Debt to Income 62.40 62.00 percent Dec 2023
Personal Savings -1.10 -1.00 percent Dec 2023
Private Sector Credit YoY 4.63 4.95 percent Sep 2024
Retail Sales MoM -0.80 0.60 percent Sep 2024
Retail Sales YoY 0.90 3.30 percent Sep 2024

South Africa Consumer Confidence
In South Africa, the BER Consumer Confidence Index covers 2,500 households in metropolitan areas, cities, towns and villages. The survey is made from personal at-home interviews and assesses general economic outlook, household’s economic condition and major spending purposes. The index is computed as the difference between the share of respondents expecting an improvement from the percentage expecting a deterioration. The indicator varies on a scale of -100 to 100; a value of -100 indicates extreme lack of confidence, 0 neutrality and 100 extreme confidence.
Actual Previous Highest Lowest Dates Unit Frequency
-5.00 -10.00 26.00 -36.00 1982 - 2024 points Quarterly


News Stream
South Africa Consumer Morale Highest since 2019
The FNB/BER Consumer Confidence Index for South Africa jumped to -5 in the third quarter of 2024, from -10 in the previous three-month period. Although the latest reading remains slightly below the long-term average of the CCI, which has been at zero since 1994, it marks the highest level of confidence since the first half of 2019. "A confluence of positive developments has bolstered the confidence levels of South Africa's more affluent consumers over the last six months," FNB Chief Economist Mamello Matikinca-Ngwenya said. Besides the slowdown in inflation and an expected interest rate cut in September, factors such as the formation of a national unity government, the absence of load-shedding, a stronger rand, and significant fuel price reductions have all played a role in boosting consumer confidence. "Moreover, the implementation of the two-pot retirement system on Sept. 1 now allows consumers access to a portion of their retirement savings," Matikinca-Ngwenya added.
2024-09-17
South Africa Consumer Sentiment Up to 1-1/2-Year High
The FNB/BER Consumer Confidence Index for South Africa improved further to -12 in the second quarter of 2024, up from -17 in the preceding period. Despite still being in negative territory, this marks the best reading since Q4 2022, largely driven by reduced power outages and declining fuel and food prices. Nevertheless, concerns about upcoming elections and ongoing high interest rates seemed to keep some consumers cautious. "Positive developments such as the cessation of load-shedding during the second quarter, substantial cuts in fuel prices in June and a significant deceleration in food inflation likely buoyed confidence levels, particularly among low- and middle-income consumers," FNB Chief Economist Mamello Matikinca-Ngwenya said. However, "high interest rates and uncertainty over which parties would form part of South Africa's government of national unity (GNU) probably kept the lid on high-income confidence," Ngwenya noted.
2024-06-27
South Africa Consumer Confidence Improves Slightly
The FNB/BER Consumer Confidence Index for South Africa edged up to -15 in the first quarter of 2024, the highest in five quarters, from -17 in the last three months of 2023, boosted by an uptick in the confidence levels of high-income households. "Significantly lower levels of load-shedding and a deceleration in inflation - particularly on the food price front - likely supported consumer confidence during the first quarter. However, job losses in the fourth quarter and renewed fuel price hikes in February and March probably countered some of these positive developments, particularly for low-income households. The tightening in fiscal policy announced in the February Budget Review probably also clipped consumer confidence", FNB Chief Economist Mamello Matikinca-Ngwenya said. Consumers are still under pressure, but coupled with a deceleration in inflation, improved consumer sentiment should bolster retail sales volumes somewhat in the coming months.
2024-03-25