Consumer confidence in South Africa rebounded in the third quarter, but confidence is expected to remain sluggish due to soaring oil prices and high interest rates squeezing household finances. According to data from the First National Bank and the Bureau of Economic Research, a subsidiary of First Rand Bank, the consumer confidence index rebounded to -13 in the third quarter from -19 in the previous quarter. The bank suggests that the confidence of high-income groups is still low. As the holiday season approaches, consumers are likely to continue to make careful calculations, prioritize purchases of essential goods, and reduce non-essential consumption.

Consumer confidence in South Africa rebounded in the third quarter, but confidence is expected to remain sluggish due to soaring oil prices and high interest rates squeezing household finances. According to data from the First National Bank and the Bureau of Economic Research, a subsidiary of First Rand Bank, the consumer confidence index rebounded to -13 in the third quarter from -19 in the previous quarter. The bank suggests that the confidence of high-income groups is still low. As the holiday season approaches, consumers are likely to continue to make careful calculations, prioritize purchases of essential goods, and reduce non-essential consumption.