The FNB/BER Consumer Confidence Index for South Africa sagged further to -25 points in the Q2 of 2023, the lowest in a year, from -23 points in the prior period. This is the second-lowest reading on record since 1994 and indicative of concerns about economic prospects in South Africa and household finances. The survey showed that most consumers expect a deterioration in South Africa's economic growth over the next 12 months, and consider the present time highly inappropriate to purchase durable goods. The confidence levels of high-income households deteriorated the most, which does not bode well for the retail sector, as affluent consumers have the greatest spending power among the different income groups. "Further interest rate hikes, rand depreciation and concerns about South Africa's diplomatic relations with the rest of the world in all likelihood compounded the negative impact of the electricity crisis on high-income confidence," said FNB chief economist Mamello Matikinca-Ngweny. source: Bureau for Economic Research (BER)

Consumer Confidence in South Africa averaged -1.80 points from 1982 until 2023, 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 August of 2023.

Consumer Confidence in South Africa is expected to be -27.00 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 -7.00 points in 2024 and 3.00 points in 2025, according to our econometric models.

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South Africa Consumer Confidence



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-03-23 08:00 AM Q1 -23 -8 -12
2023-06-29 08:00 AM Q2 -25 -23 -27
2023-09-08 08:00 AM Q3 -25 -24


Related Last Previous Unit Reference
Consumer Confidence -25.00 -23.00 points Jun 2023

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
-25.00 -23.00 26.00 -36.00 1982 - 2023 points Quarterly

News Stream
South Africa Consumer Confidence Slips to 1-Year Low
The FNB/BER Consumer Confidence Index for South Africa sagged further to -25 points in the Q2 of 2023, the lowest in a year, from -23 points in the prior period. This is the second-lowest reading on record since 1994 and indicative of concerns about economic prospects in South Africa and household finances. The survey showed that most consumers expect a deterioration in South Africa's economic growth over the next 12 months, and consider the present time highly inappropriate to purchase durable goods. The confidence levels of high-income households deteriorated the most, which does not bode well for the retail sector, as affluent consumers have the greatest spending power among the different income groups. "Further interest rate hikes, rand depreciation and concerns about South Africa's diplomatic relations with the rest of the world in all likelihood compounded the negative impact of the electricity crisis on high-income confidence," said FNB chief economist Mamello Matikinca-Ngweny.
2023-06-29
South Africa Consumer Confidence Dips in Q1
The FNB/BER Consumer Confidence Index for South Africa slipped to -23 points in the first quarter of 2023, from a two-year high of -8 points in the previous three-month period. This is the third-lowest reading since 1993, reflecting extreme concerns among consumers about South Africa's economic prospects and their household finances. The survey showed that the majority of consumers believe it was inappropriate to buy durables like vehicles, furniture and household appliances in anticipation that South Africa's economic growth over the next 12 months will deteriorate. The country has been grappling with the impact of severe electricity shortages, which is hobbling businesses and jeopardizing economic growth. "The alarming increase in power outages since December and the concomitant deterioration in South Africa's economic prospects no doubt rocked consumer sentiment during the first quarter," said FNB chief economist Mamello Matikinca-Ngweny.
2023-03-23
South Africa Consumer Confidence Improves
The FNB/BER Consumer Confidence Index for South Africa improved to -8 points in the fourth quarter of 2022, the highest in two years, from -20 points in the previous period. Still, the index has been in negative territory for 14 straight quarters, the longest stretch since the series began in 1982, signaling depressed consumer sentiment. The household financial outlook sub-index was the main driver of the improvement, jumping 15 index points to reach 13 during the fourth quarter, despite a challenging economic outlook amid soaring inflation and tighter monetary conditions. "An uptick in employment growth, particularly in the now fast-recovering services sector, and substantially lower petrol prices since the third quarter no doubt bolstered consumer sentiment in the run-up to the festive season,” said Mamello Matikinca-Ngwenya, chief economist at FNB.
2022-12-08