South Africa's consumer confidence index stood at -7 in the fourth quarter of 2019, remaining at the lowest level since the fourth quarter of 2017, as households have been experiencing tighter income squeeze amid slow wage growth, high tax rates, and soaring electricity prices. Consumer Confidence in South Africa averaged 1.42 points from 1982 until 2019, reaching an all time high of 26 points in the first quarter of 2018 and a record low of -33 points in the second quarter of 1985. source: Bureau for Economic Research (BER)

Consumer Confidence in South Africa is expected to be -6.00 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 -8.00 in 12 months time. In the long-term, the South Africa Consumer Confidence is projected to trend around 4.00 points in 2020, according to our econometric models.


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South Africa Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
-7.00 -7.00 26.00 -33.00 1982 - 2019 points Quarterly



Calendar GMT Actual Previous Consensus TEForecast
2019-04-24 07:00 AM Q1 2 7 -6
2019-05-29 07:10 AM Q2 5 2 -5
2019-11-05 08:05 AM Q3 -7 5 3
2020-01-14 08:00 AM Q4 -7 -7 -10
2020-04-24 07:00 AM Q1 -7 -6


News Stream
2019-11-05
South Africa Consumer Confidence at 2-Year Low
The FNB/BER Consumer Confidence Index for South Africa fell to -7 in the third quarter of 2019 from 5 in the previous three months. It is the lowest reading since the last quarter of 2017, signalling a further deterioration in consumers' willingness to spend as household budgets are increasingly being strained by rising unemployment, slow wage growth, high tax rates, and soaring electricity prices.

2019-05-29
South Africa Consumer Confidence Rises Slightly in Q2
The South Africa consumer confidence index rose to 5 in the second quarter of 2019 from 2 in the previous quarter, boosted by recent elections and the stabilisation of the country's power supply which likely offset substantial increases in fuels as well as growing unemployment. Still, "household budgets were expected to remain constrained by higher personal income taxes, sharp fuel and electricity price hikes and rising unemployment rates", FNB Chief Economist Mamello Matikinca-Ngwenya said.

2019-04-24
South Africa Consumer Confidence at Over 1-Year Low
The South Africa consumer confidence index decreased further to 2 in the first quarter of 2019 from 7 in the previous quarter. It is the lowest reading since Q4 2017 and far below the record high of 26 when the President Ramaphosa took office a year ago, as expectations of an economic recovery in the next twelve months faded. "The shock implementation of stage 4 load-shedding by Eskom during February and March no doubt had a very detrimental impact on the South African economy and it is therefore not surprising that consumers are becoming especially concerned about our economic prospects," FNB Chief Economist Mamello Matikinca-Ngwenya said. Other factors could have contributed including prolonged labour strikes, a fall in the rand exchange rate, sharp fuel price hikes and further increases in personal income taxes announced in the February national budget, Matikinca-Ngwenya added.

2019-01-25
South Africa Consumer Confidence Stable in Q4
The South Africa consumer confidence index held steady at 7 in the fourth quarter of 2018, matching the reading in the previous quarter. Still, the latest figure stays far above the depressed levels recorded in the final years of former President Zuma's regime (2015-2017) when it ranged between readings of -3 and -15. The survey indicates that "consumers are fairly optimistic that the outlook of the SA economy and their household finances will improve over the next 12 months", FNB Chief Economist Mamello Matikinca-Ngwenya said. Actually, the sharp drop in fuel prices during December and January must give some budgetary relief for consumers and simultaneously reduce the pressure to hike interest rates amid rising inflation.


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.

South Africa Consumer Last Previous Highest Lowest Unit
Consumer Confidence -7.00 -7.00 26.00 -33.00 points [+]
Retail Sales MoM 3.10 0.10 3.90 -4.80 percent [+]
Retail Sales YoY 2.60 0.40 15.50 -6.30 percent [+]
Consumer Spending 1961051.00 1960080.00 1961051.00 260612.00 ZAR Million [+]
Disposable Personal Income 3068290.00 3037235.00 3068290.00 3520.00 ZAR Million [+]
Personal Savings -0.10 -0.20 23.80 -2.50 percent [+]
Private Sector Credit 6.60 7.28 35.88 -2.35 percent [+]
Bank Lending Rate 9.75 10.00 25.50 5.50 percent [+]
Gasoline Prices 1.15 1.09 1.44 0.43 USD/Liter [+]
Households Debt To GDP 34.00 33.80 43.90 33.10 percent of GDP [+]
Households Debt To Income 71.90 71.90 86.40 40.30 percent [+]
Consumer Confidence Economic Expectations -22.20 -1.00 37.00 -38.00 [+]
Consumer Confidence Financial Expectations 6.40 3.00 30.40 -22.00 [+]
Consumer Confidence Major Purchases Expectations -11.80 -17.00 13.10 -42.00 [+]