Key takeaways:

  • Household consumption expenditure, at 59.9% of the gross domestic product (GDP), is a key driver of South Africa’s economy.
  • Consumer confidence recovered slightly in the first quarter of 2021 but remains very low.
  • Debt levels are rising, with households increasingly struggling to meet their debt obligations.
  • Household spending has diminished, as seen in poor retail and new vehicle sales.
  • Online activity remains strong, despite the easing of lockdown restrictions.
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