Consumers urged to tighten belts

2016-07-07 06:00

As consumer confidence takes a dip, consumers curb their spending on discretionary goods and credit exposure.

The Bureau of Economic Research’s (BER) Consumer Confidence Index (CCI) fell two points from -9 index points in the first quarter of 2016 to -11 index points in the second quarter of the year. The weaker reading is attributed to political uncertainty, a limited expansion in public sector employment, social unrest, rising food prices and previous hikes in the domestic interest rate. As a result, discretionary spending has been reduced, explained economist Sanisha Packirisamy of Momentum Investments. She said credit demand and supply has also been impacted.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.


5 top leg exercises for men

Here’s our selection of the five best leg exercises that you can do in the comfort of your own home.


You won't want to miss...

WATCH: Pornhub is giving users free access to premium content this holidays
5 top leg exercises for men
10 best dressed men of 2017
How to open a beer bottle without an opener
Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.