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.