Ina Opperman
Business Journalist
5 minute read
6 Sep 2021
6:35 pm

SA’s middle class not as confident as the poor and the rich in Q3

Ina Opperman

Government supports measures after the riots and looting are probably responsible for the increased consumer confidence in the low- and high-income groups in the country.

Image: iStock

South African consumers have shown themselves to be resilient in the third quarter despite the riots that swept through KwaZulu-Natal and Gauteng in July. However, the middle class is not as confident as the poor and the rich, which impacted on consumer confidence. Resilient consumers and consumer confidence is good news for businesses, because it shows that consumers are ready to spend. After the FNB/BER Consumer Confidence Index slipped from -9 to -13 index points in the second quarter of 2021, it recovered some lost ground to -10 in the third quarter and surprisingly did not deteriorate further. Although the...