South Africa Consumer Mood Extended Upward Trend Before Iran War

Consumer sentiment in South Africa picked up to the highest level since 2024 in the first quarter, a trend that looks set to be derailed by the Iran war.

First National Bank’s consumer-confidence index compiled by the Bureau for Economic Research improved to -7 in the three months through March — the third consecutive quarterly increase, the Johannesburg-based lender said in an emailed statement on Tuesday. The data was collated before the conflict in the Persian Gulf erupted on Feb. 28.