South Africa’s (SA)consumer confidence improved in the fourth quarter to hit its highest reading for 2025, helped by consumers\u2019 appetite to spend into the holiday season, a survey showed this Tuesday.<\/p>\n
The consumer confidence index, sponsored by First National Bank (FNB) and compiled by the Bureau for Economic Research, improved to -9 points from -13 points in the third quarter.<\/p>\n
All three sub indices of the index the economic outlook, household financial outlook and the suitability of the present time to buy durable goods improved in the final quarter.<\/p>\n
“These developments suggest that retail tills will jingle a merry tune during the 2025 festive season, with sales volumes projected to exceed the already jolly numbers recorded during the 2024 holiday period,\u201d said FNB Chief Economist Mamello Matikinca Ngwenya.<\/p>\n
The survey found that while retail sales growth is still expected to slow year-on-year, the rise in the index, together with employment gains and another interest rate cut, suggests the moderation could be less pronounced than previously expected.<\/p>\n
Ngwenya said consumer sentiment toward the end of the year was likely buoyed by a number of other positive developments, apart from a further interest rate cut and an appreciation in the rand exchange rate.<\/p>\n
SA in November secured its first credit rating upgrade in nearly 20 years with the S&P Global raising the country\u2019s foreign-currency long-term sovereign rating to “BB” from “BB-“. The credit rating agency also said SA’s Gross Domestic Product growth will pick up to 1.1% in 2025 after a subdued 0.5% in 2024.<\/p>\n
<\/p>\n
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