South Africa's consumer confidence improved in the fourth quarter, a survey released on Thursday showed.South Africa's consumer confidence improved in the fourth quarter, a survey released on Thursday showed, although consumer sentiment remained"depressed" largely due to soaring inflation and large interest rate hikes.
The recovery was attributed to a rebound in consumers' willingness to spend, relative to the previous two quarters in 2022. An upwards trend in employment growth and substantially lower petrol prices since the last quarter have bolstered consumer sentiment in the run-up to the festive season, Matikinca-Ngwenya added.
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