Consumer Confidence Grows In South Africa

By PYMNTS | September 16, 2013

In the past consumer confidence in South Africa has been reported as one of the lowest in Africa. However, a new study from MasterCard indicates that confidence is becoming more optimistic. South African consumer confidence has increased for the second half of 2013 with a score of 56.3—an 8.3 point increase compared to the 48 reported just six months ago.

“Firm growth in semi-durable expenditure by households, and increases in spend on services in the first quarter of 2013 have undoubtedly contributed to our economy being regarded with more optimism,” said Dr Martyn Davies, independent economist and CEO of Frontier Advisory to MasterCard.