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Absa Economist Miyelani Maluleke on Consumer Confidence figures
Consumer confidence dropped significantly in the third quarter but still remains above average despite a weak economy. The FNB/BER consumer confidence index dropped to 7-points in the third quarter, from 22-points in the second quarter of 2018. Analysts have attributed the drop to higher petrol prices in the same period. The move is also viewed as a correction from the euphoria of Cyril Ramaphosa's presidential appointment in the second quarter.
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By SABC News and Current AffairsConsumer confidence dropped significantly in the third quarter but still remains above average despite a weak economy. The FNB/BER consumer confidence index dropped to 7-points in the third quarter, from 22-points in the second quarter of 2018. Analysts have attributed the drop to higher petrol prices in the same period. The move is also viewed as a correction from the euphoria of Cyril Ramaphosa's presidential appointment in the second quarter.