Outages dim consumer spirit

SOUTH Africa’s consumer confidence fell back into negative territory in the first quarter of 2015, weighed down mainly by chronic power shortages that have blighted the economic outlook, a survey showed yesterday. The index fell to minus 4 points after being flat in the fourth quarter, as confidence levels among high- and middle-income households dropped, compilers FNB and the Bureau for Economic Research said. “With the escalation of load shedding, consumers have understandably become more negative,” said Sizwe Nxedlana, the chief economist at FNB. – Reuters