Finweek English Edition - - In Brief -

Con­sumer con­fi­dence lev­els de­te­ri­o­rated sub­stan­tially in the third quar­ter of 2018, with the FNB/BER Con­sumer Con­fi­dence In­dex (CCI) fall­ing from 22 in Q2 to 7 in Q3. Con­sumer sen­ti­ment dropped across all in­come groups, but was se­vere with low-in­come con­sumers (earn­ing less than R3 000 per month), plung­ing from 20 to -8 in­dex points. Ac­cord­ing to FNB, the de­te­ri­o­ra­tion in con­sumer sen­ti­ment can mainly be as­cribed to sub­stan­tial drops in the eco­nomic out­look and house­hold fi­nan­cial prospects subindices of the CCI, which plunged by 24 and 18 points re­spec­tively.

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