SA consumers 'holding back' on big purchases

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Johannesburg – Consumers do not believe now is a good time to be buying durable goods, such as cars, furniture and appliances.

This is according to the FNB and Bureau of Economic Research (BER) report on the consumer confidence index for the third quarter. The consumer confidence index recovered from a low of -11 recorded in the second quarter to -3. This is the highest index level since the fourth quarter of 2014.

Although expectations for an improved economic outlook and better prospects for the financial status of households contributed to the recovery in the index, consumers are still holding back on purchasing big ticket items.

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