SA 'more confident' about future
22 October 2004
From consumption to investment, jobs and overall quality of life, South Africans have become more confident about their futures, according to a global survey conducted for MasterCard.
The MasterIndex of Consumer Confidence survey, conducted twice year,
seeks to determine consumer perceptions and expectations for the next six months
relating to five factors: employment, economy, regular income, stock market and quality of life.
The second MasterIndex survey for the South Asia, Middle East and Africa region was conducted in August among a sample of at least 400 consumers in each of seven selected markets: Egypt, Kuwait, Lebanon, Saudi Arabia, South Africa, United Arab Emirates and India.
While South Africa's overall MasterIndex score of 79.6 out of a possible 100 made it only the fourth most optimistic of the seven countries surveyed, it was a significant jump from the 64.4 that the country scored in the February survey.
South
Africa was also the only country other than Saudi Arabia to show positive confidence growth in all five categories surveyed. According to MasterCard, South African consumers "are highly optimistic about regular income, are very optimistic about the economy and stock market and, to a slightly lesser extent, are also optimistic about quality of life and employment".
The survey results "not only confirm other positive economic news about the country, but also shows the broad-based nature of our economic revival", Eddie Grobler, country manager of MasterCard Southern Africa, told the SA Press Association (Sapa).
"From consumption to investment, jobs and even the overall quality of life, average South Africans have become more confident about their futures."
Mike Schussler, chief economist at T-Sec, told Sapa that while South Africa was only the fourth most positive country in the survey, "one must remember that all three countries that have a higher confidence index
are oil producers, and with the current record high oil prices this would be understandable".
For more on the survey, visit MasterCard-MasterIndex.com
SouthAfrica.info reporter
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