Consumer confidence waned only slightly in the second quarter from its "Ramaphoria" leap of joy in the first quarter, according to a poll sponsored by First National Bank (FNB). Stellenbosch University’s Bureau for Economic Research (BER) reported on Tuesday that its second-quarter consumer confidence index came to 22 points. The replacement of Jacob Zuma by Cyril Ramaphosa as SA’s president in the first quarter saw the consumer confidence index jump to a record high of 26 points following nearly six years of persistent gloom. "Since negative corrections have typically followed large spikes in the consumer confidence index in the past, we are somewhat surprised that consumer confidence levels remained so high following the unparalleled surge in consumer sentiment during the first quarter of 2018," the bureau said in a media release on Tuesday.
"Furthermore, there were several adverse developments in recent months that had the potential to deflate consumer confidence. Although ...
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