Consumer confidence plunges to three-decade low

The FNB/BER Consumer Confidence Index says from -9 to -13 index points during the first quarter of 2022, it plunged to -25 in the second quarter of 2022. #DStv403

JOHANNESBURG - Consumer confidence has tumbled to its lowest level in more than three decades.

That's according to the FNB/BER Consumer Confidence Index.

It says from -9 to -13 index points during the first quarter of 2022, it plunged to -25 in the second quarter of 2022.

Confidence fell notably across all income groups, with confidence levels among high-income households -- those earning more than R20,000 per month -- crashing the most by -30.

Affluent households anticipate that their finances will continue to be strained, and are also concerned about the country's economic outlook.

Economists say the dramatic deterioration in consumer sentiment signals a marked slowdown in consumer spending in the coming months.

Source
eNCA

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