SA consumer confidence rebounds just ahead of the holidays

Momentum Investments’ latest Consumer Pulse for Q4 2025 shows a clear lift in consumer confidence ahead of the festive season.

After a sharp dip in Q3, middle-income households helped push the Consumer Confidence Index (CCI) from –13 to –9, the highest level recorded this year, even though confidence is still below average.

The report notes that while household spending may slow in late 2025 as two-pot withdrawals decline, lower interest rates and easing pessimism should continue to support consumer activity. Household expenditure is expected to grow by 2.7% in 2025 and 2% in 2026.

The research also highlights a rise in betting activity. Although total gambling turnover looks high, only 5% represents actual losses, showing that much of the turnover is recycled betting money.

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