Slight uptick in consumer confidence, index shows
JOHANNESBURG – South African consumers are feeling slightly more positive, according to the Consumer Confidence Index (CCI) for the second quarter.
It showed a 3-point increase to 93, presenting a marginally more positive quarter-on-quarter picture of consumer sentiment.
This month, data from Statistics South Africa showed a higher-than-expected gross domestic product of 3.1percent for the second quarter, while annual growth also exceeded expectations, coming in at 0.9percent.
Kerith Botha, the Nielsen managing director of the connect business in South Africa, said consumers were slightly more optimistic as headline inflation seemed to be stabilising.
The print showed that 19percent of South Africans’ monthly budget went towards food and beverages at home, 17percent to housing and 10percent to education.
Source: iol.co.za