Afrique du Sud Confiance Des Consommateurs

The FNB/BER Consumer Confidence Index for South Africa plunged to -20 in the first quarter of 2025, the lowest point since Q2 2023, down from -6 in the previous period. This marked the second consecutive quarter of declining sentiment, as consumers were shaken by the recent budget proposal to increase the VAT tax rate. The worsening diplomatic relations between South Africa and the US, and the negative consequences of the trade war started by President Trump also weighed on sentiment. All the sub-indices declined notably during the first quarter, with the economic outlook sub-index dropping to -32 points from -9 points. The household finances sub-index also slumped from 11 to -1. The sub-index measuring the appropriateness of the present time to buy durable goods declined from -21 to -28.