Almost all financial decision makers in South Africa view the current economy as weak or neutral, but expectations are improving with only 32 percent of consumers expecting the economy to weaken in the next 3 months (down from 65 percent two months ago). The majority of consumers have seen household income and savings decrease over the past month and express concerns over job security. Many expect to increase usage of online and mobile banking after the crisis is resolved, while sentiment towards banks performance is net neutral.
Financial decision-maker sentiment: South Africa
An ongoing look at how the attitudes of financial decision makers in South Africa are evolving during the COVID-19 pandemic.