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SA Economic Indicators:
for the month of May 2013
SA Economic Indicators
Consumer Confidence
Consumer Confidence Q1/2002 – Q1/2013
Updated Quarterly (Last Updated: June 2013)
25
23
Boom period – High
levels of GDP growth
20
20
Consumers
upbeat due to
World Cup
euphoria
20
19
21
20
17 17
22
21
17
18
18
15
15
14
15
14
12
11
Dramatic
drop in
confidence
9
10
6
4
5
1
0
6
4
4
1
1
4
5
5
1
0
-1
-2
-1
-5
-1
-3
-4
-6
-7
-10
-3
-9
-7
2008/2009
Recession
-12
Source: Bureau for Economic Research
SA Economic Indicators
for the month of May 2013
© 2013 Trade Intelligence
Q1/2013
Q4/2012
Q3/2012
Q2/2012
Q1/2012
Q4/2011
Q3/2011
Q2/2011
Q1/2011
Q4/2010
Q3/2010
Q2/2010
Q1/2010
Q4/2009
Q3/2009
Q2/2009
Q1/2009
Q4/2008
Q3/2008
Q2/2008
Q1/2008
Q4/2007
Q3/2007
Q2/2007
Q1/2007
2006/Q4
Q3/2006
Q2/2006
Q1/2006
Q4/2005
Q3/2005
Q2/2005
Q1/2005
Q4/2004
Q3/2004
Q2/2004
Q1/2004
Q4/2003
Q3/2003
Q2/2003
Q1/2003
Q4/2002
Q3/2002
Q2/2002
Q1/2002
-15
SA Economic Indicators
Consumer Confidence
COMMENTARY
• Consumer confidence for Q1/2013 dropped by 4 index points to -7
• This brings it to a 9-year low, with levels last reaching -7 in Q1/2004
• It now measures even lower than its trough of -6 in the height of the 2008/2009 recession
• This is contrasted by US consumer confidence which reached a 5-year high at the end of May
• The SA figure indicated that consumers will be particularly cautious in their spending in 2013
• Expenditure in household consumption was the mainstay of the economy from 2010 to 2012, making up
two-thirds of the SA economy
• Consumers are cautious due to:

High unemployment levels

Violent strike action

Threats of power failures during the winter

Rising inflation

The subdued outlook for foreign investment
SA Economic Indicators
for the month of May 2013
© 2013 Trade Intelligence
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SA Economic Indicators
for the month of May 2013
© 2013 Trade Intelligence