The FNB/BER Consumer Confidence Index for South Africa rose to -9 in Q4 2025, marking a one-year high, up from -13 in the previous period. The biggest improvement was seen in durable goods, which rose to -14 from -20, the highest level in six years. “Apart from a further interest rate cut and an appreciation in the rand exchange rate, a number of other positive developments likely buoyed consumer sentiment towards the end of the year,” FNB chief economist Mamello Matikinca-Ngwenya said.