South African consumer confidence edged higher in the first quarter of 2026, with the FNB/BER Consumer Confidence Index CCI rising two points, from a negative value of -9 to -7 in the final quarter of 2025.
The reading is the highest since the fourth quarter of 2024, when the two-pot retirement savings system allowed households to withdraw approximately R40bn from pension funds.
The improvement was driven almost entirely by high-income households earning more than R20 000 per month, whose confidence jumped from -12 to -4. Affluent consumers benefited from two-pot pension withdrawals, declining interest rates, soaring stock prices and a stronger rand.
