Consumer confidence index not as bad as the '80s, but it's not far off
Following an improvement in consumer confidence in the third quarter, the FNB/BER consumer confidence index slipped to negative 10 in the final quarter of last year. The third-quarter surge had been largely attributed to growing optimism about the future of the economy in the wake of the local government elections in which the ANC surrendered three major metropolitan councils. But results from the fourth quarter show that this optimism was short-lived. Consumer confidence in the Eastern Cape, where the DA won Nelson Mandela Bay Metro, fell 37 points to -8, having climbed 29 points in the third quarter. Similarly, after improving by 11 points between July and September, when a coalition of opposition parties took over Pretoria and Johannesburg, confidence in Gauteng fell 13 points to -8. This about-turn in these two provinces may reflect the realisation that change at local-government level is not a panacea for dismal economic and employment growth. Turning an economy around takes ti...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.