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Johannesburg - South African consumer confidence rose 10.8 points to 65.5 in the first half of 2011, its highest level since 2009, according to the MasterCard Worldwide Index of Consumer Confidence released on Thursday.
The index was at 54.7 points six months ago. The index score is calculated with zero as the most pessimistic, 100 as the most optimistic and 50 as neutral.
SA's optimistic score of 65.5 is a jump of nearly 20% compared to the 54.7 that the market scored in the previous six months.
All five key indicators that made up the overall consumer confidence score saw increases.
"This indicates that South Africans are feeling strongly positive about the next six months," Anna Jones, area head for MasterCard Worldwide Southern Africa said.
The most significant increase in optimism compared to the previous index came from the employment indicator which saw a jump of 15.2 points from a score of 48.6 six months ago to a current score of 63.8.
"The accuracy of the survey results for employment is supported by data from Statistics South Africa that confirms a return to formal employment creation since the fourth quarter of 2010," said independent economic adviser Roelof Botha.
The index was at 54.7 points six months ago. The index score is calculated with zero as the most pessimistic, 100 as the most optimistic and 50 as neutral.
SA's optimistic score of 65.5 is a jump of nearly 20% compared to the 54.7 that the market scored in the previous six months.
All five key indicators that made up the overall consumer confidence score saw increases.
"This indicates that South Africans are feeling strongly positive about the next six months," Anna Jones, area head for MasterCard Worldwide Southern Africa said.
The most significant increase in optimism compared to the previous index came from the employment indicator which saw a jump of 15.2 points from a score of 48.6 six months ago to a current score of 63.8.
"The accuracy of the survey results for employment is supported by data from Statistics South Africa that confirms a return to formal employment creation since the fourth quarter of 2010," said independent economic adviser Roelof Botha.
