Data provided by iNet BFA
Loading...
See More

Consumers less confident on economy

Mar 07 2013 10:46 Sapa

Related Articles

Consumers downbeat about SA economy

Consumers less upbeat about economy

Consumer confidence largely steady

Consumer confidence up - survey

Consumer confidence dips sharply

South African consumers still upbeat

 

Johannesburg - Consumer confidence declined by 21.8 points to a score of 48 in the second half of 2012, a survey by MasterCard revealed on Thursday.

All five key indicators of the MasterCard Index of Consumer Confidence decreased, with four of them showing a decline of more than 20 points.

The latest overall confidence level was significantly lower when compared to the 69.8 of the previous six months. The regular income indicator declined by only 10.3 points, from 80.3 six months ago to a current optimistic score of 70, the highest score of all five indicators.

The quality of life indicator showed the steepest decline of 28.1 points from 70 in the second half of 2012 to 41.9 in the current index.

The MasterCard Index of Consumer Confidence is based on a survey which measures consumer confidence on prevailing expectations in South Africa for the next six months based on the economy, employment, the stock market, regular income, and quality of life.

Zero is the most pessimistic, 100 the most optimistic, and 50 neutral.

The recent survey was conducted in November and December 2012, and involved 11 339 respondents aged 18 to 64 across 25 markets in the Asia Pacific/Middle East/Africa region.

On the African continent, the survey was conducted in Egypt, Kenya, Morocco, Nigeria, and South Africa.

"The index results reflect the uncertainty felt by South Africans in the last six months of 2012, as they considered the six months ahead," said Philip Panaino, division president, MasterCard SA.

Panaino said while the index scores fell sharply, the overall score of 48 was within the index's neutral range (between 40 and 60).

"This means that the South Africans surveyed are neither optimistic nor pessimistic about South Africa for the next six months - they are simply less optimistic than before."

He said consumer expectations for the future were affected by the Marikana mine shooting and labour unrest that swept across the country in late 2012.

Other contributing factors include downgrades by several international ratings agencies, slower private-sector and consumer spending, higher inflation, and persistent unemployment.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

consumer confidence
NEXT ON FIN24X

Sanral chair quits

2014-07-31 07:50

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

Go solar and save

Households may have to examine alternative forms of energy after Eskom has been given permission to raise electricity prices above the 8% previously granted.

 
 

Start saving...

Where can you stash your cash?
Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...