According to the latest MasterCard Index of Consumer Confidence, consumer confidence in South Africa has improved slightly for the second half of 2014, up 2.1 points compared to last year’s score of 56.3. The Index describes the score of 58.7 as ‘neutral-positive’.
Looking at the three major cities examined by the Index, Cape Town’s optimistic score of 63.7 positively influenced the country’s overall consumer confidence score, while consumer confidence in both Johannesburg and Durban dipped to 57.4 and 52.2 respectively.
“It is interesting that Cape Town, the most pessimistic city in the 2013 Index, is now the most optimistic and the only city to record an increase in consumer confidence,” says Mark Elliott, Division President, MasterCard, South Africa.
Now in its eleventh year in South Africa, the MasterCard Index of Consumer Confidence is the Middle East and Africa (MEA) region’s most comprehensive gauge of consumer confidence. The Index calculates a score on a scale where zero is the most pessimistic, 100 is the most optimistic and 50 is neutral.
For more information, see the full press release.