FX.co ★ South Africa Consumer Confidence Tumbles in Q1

The FNB/BER Consumer Confidence Index for South Africa plummeted to -20 in the first quarter of 2025, reaching its lowest level since the second quarter of 2023, a decline from -6 in the preceding period. This represents the second straight quarter of diminishing consumer sentiment, largely due to the unsettling recent budget proposal to raise the VAT rate.