FX.co ★ South Africa's Consumer Sentiment Wanes as Thomson Reuters IPSOS PCSI Dips in July

In a reflection of growing economic concerns, the Thomson Reuters IPSOS Primary Consumer Sentiment Index (PCSI) for South Africa dipped to 44.98 in July 2025, down from 45.96 in June. As per the latest data updated on July 10, 2025, this monthly decline underscores the cautious outlook amongst South African consumers as they navigate persistent economic challenges.

The month-over-month decline in the PCSI sheds light on consumer sentiment, which sequentially witnessed a slight contraction following the previous month's reading that already indicated a downturn from earlier periods. As consumers grapple with ongoing issues such as inflation, unemployment, or macroeconomic uncertainties, their confidence in economic conditions continues to face pressures.

These insights serve as a critical gauge for policymakers and economists, indicating potential headwinds for consumer-driven economic activities. With the PCSI reading under the 50-threshold, it portrays more negative sentiment than positive, warranting close observation of consumer behavior and its broader implications on South Africa's economic trajectory. Such shifts reinforce the necessity for strategies aimed at restoring consumer confidence and promoting economic resilience in the face of adversities.