South Africa consumer confidence slips to two-decade low

South African consumer confidence has declined, reflecting ongoing concerns about the country's economic outlook. The quarterly index measuring consumer sentiment dropped to -17 in the three months through December, marking its lowest fourth-quarter reading in more than two decades. This is a slight decrease from -16 in the previous quarter, as reported by FirstRand’s First National Bank.

The decline in consumer confidence suggests that individuals are likely to exercise caution in their spending during the holiday shopping season, especially on expensive luxury goods, according to the Johannesburg-based lender. The index measuring consumer sentiment regarding the economic outlook also weakened, falling to -28 from -22 in the prior quarter, indicating increased pessimism among consumers about the overall economic conditions.

However, there is a contrasting positive trend as consumers express optimism about their personal finances. A measure of households' financial outlook improved to 3 from -1, suggesting that individuals are more optimistic about their own financial situations despite broader economic concerns.