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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Consumer Confidence climbed to -7 in January 2026
FMPMonthlyReleased March 2026
South Africa Consumer Confidence climbed to -7 in January 2026, released March 2026, up 2 from December's -9 reading. The print exceeded the -11 consensus by 4. Consumer Confidence has now risen for 3 consecutive months. Consumer Confidence is now the highest in 12 months.
Latest Release
-7
Actual
-11
Consensus
-9
Previous
Median Absolute Error
±4.5
across last 10 releases
Last Call
Mar 2026
Predicted: -11
Actual: -7
Error: -4
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Bullish ZAR | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Bullish ZAR | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Consumer Confidence (South Africa) was reported at -7.00 in March 2026. This beat the market consensus of -11.00 by 4.00. The reading rose from the previous value of -9.00. Trailing 12-month context per ETL data through March 2026.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged -9.67, up from the prior three at -12.00. In March readings over the past 3 years, Consumer Confidence has averaged -14.00.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch). Over the last 10 releases, the Sigmacast model's median absolute error is 4.50.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Inflation Rate MoM (Jun 17) and Inflation Rate YoY (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update March 2026.
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Consumer Confidence - ZA
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About Consumer Confidence — South Africa
DEFINITION
Index The Consumer Confidence Index is a widely recognized financial indicator that measures the level of optimism or pessimism among consumers regarding the state of the economy. It is based on surveys and data collected from a representative sample of households, and is used by economists and investors to gauge consumer spending patterns and overall economic health. A higher index value indicates a positive outlook, while a lower value suggests a more negative sentiment. This index is a valuable tool for businesses and policymakers in making informed decisions and predicting future economic trends.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual -7, consensus -11. Prior reading (Oct 2025): -9. Before that (Jul 2025): -13.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.