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2026-09-17 16:46:09
[South Africa's Consumer Confidence Index Rises to -13 in Q3] ⑴ In the third quarter of 2026, South Africa's FNB/BER consumer confidence index was -13, higher than the -19 in the second quarter, which was the lowest reading since the first quarter of 2025. ⑵ The survey shows that this improvement was mainly supported by stronger confidence among low-income households, who were less affected by recent interest rate hikes and benefited from easing food price pressures. ⑶ However, uncertainty surrounding the Middle East conflict and the prospect of rising interest rates are expected to dampen consumer spending in the coming months. ⑷ First National Bank's chief economist, Mamello Matikinca-Ngwenya, stated that shoppers are likely to remain cost-conscious ahead of the holiday season, prioritizing necessities over non-essential purchases, suggesting that consumer spending growth will remain sluggish, with retailers focusing on value for money potentially outperforming high-end brands.
