FX.co ★ South Africa’s Consumer Sentiment Slips in February as PCSI Edges Below 49

South African consumer confidence weakened slightly in February 2026, according to the latest Thomson Reuters IPSOS Primary Consumer Sentiment Index (PCSI) data. The index eased to 48.57 in February from 49.27 in January, on a month-over-month basis.

The February reading marks a modest deterioration in sentiment compared with the previous month, when the index had stood at 49.27. The data, updated as of 12 February 2026, highlight a softening in consumers’ outlook as the indicator remains below the 50-point level that typically separates pessimistic from optimistic sentiment.

On a month-over-month comparison, the “Actual” figure reflects the change from January to February 2026, while the “Previous” comparison captures the shift from December 2025 to January 2026, underscoring that consumer sentiment has now posted back-to-back readings below 50 as the new year unfolds.