The consumer confidence index in South Africa dipped in the first quarter of 2019. This is according to a survey conducted by the Bureau for Economic Research in partnership with First National Bank, it showed that consumers are neither optimistic nor pessimistic about the outlook for the country.
FNB’s Chief Economist, Mamello Matikinca-Ngwenya added that the index fell by +2 in the first quarter from +7 in the last quarter in 2018. The report further explained that the shock implementation of stage 4 load shedding by Eskom between February and March this year.
Other incidents that impacted negatively on the South African economy and its prospects are the prolonged labour strikes, a fall in the rand against increase in price of fuel and personal income hike that was announced in February contributed to it.
The latest dip in consumer confidence index shows that consumers do not expect the country’s economic prospect to improve over the next 12 Months as they did throughout 2018.
