South Africa consumers remain bleak over rising inflation, rates
South African consumer confidence remained in the doldrums in the third quarter, weighed down by rising inflationary pressures and lending costs.
A quarterly index measuring sentiment rose to minus 20, from minus 25 in the previous three-months, with the removal of all remaining coronavirus restrictions contributing to the marginal improvement, FirstRand’s First National Bank said in an emailed statement on Thursday. The index has been negative for 13 straight quarters, the longest stretch since the series began in 1982.
“Consumer confidence in general remains very low and not conducive to healthy growth in real consumer spending,” FNB said. “Mounting inflationary and interest-rate pressures coupled with dismal consumer confidence point to a significant deterioration” in spending, especially on durable goods, it said.
Sentiment improved most among low-income earners, mainly due to the government extending the payment of welfare grants and increasing the number of those who are eligible.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















