Consumers optimistic about household finances, survey finds

JOHANNESBURG - Accounting firm PwC said consumers appear to be upbeat about their household finances, spurring sentiment towards retail spending in the second half of the year.

PwC has published its latest consumer survey that details what consumers perceive as the biggest potential threats to the country in the coming 12 months.

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Although some consumers are optimistic about household finances, the PwC report shows a reluctance to buy durable goods now.

Six out of 10 people expect to spend more on essentials like groceries, clothing and healthcare products in the next six months.

Fewer consumers expect to spend more on comfort and luxury goods like electronics and sports equipment.

Africa retail and consumer leader at PwC Anton Hugo said a significant decline in load shedding, expectations that interest rates will start coming down soon, and hopes for improved salaries and wages are among factors likely to boost appetite for consumer spending.