SA consumer confidence hits four-year low

Consumer confidence is plummeting. During the first quarter of this year it fell by the biggest margin in four years, losing 10 Index points.

Confidence among black consumers declined the most, registering a fall of 12 points. Among whites, confidence fell by six points.

The slow-down the due to high interest rates and rising food and petrol costs. FNB economist Cees Bruggemans says household spending has now been halved compared with last year.