Consumers show signs of financial recovery with easing inflation and I interest rates.
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GUEST – Jaco van Jaarsveldt, Head of Commercial Strategy and Innovation at Experian
Despite ongoing financial pressures, South African consumers are showing signs of optimism. Experian’s Q3 2024 Consumer Default Index (CDIx) reveals a record high appetite for credit, coupled with a slight improvement in the overall default rate, suggesting a potential turning point in consumer financial health. The improving economic outlook, driven by factors such as reduced interest rates and lower inflation, contributes to this cautiously optimistic perspective.
Despite ongoing financial pressures, South African consumers are showing signs of optimism. Experian’s Q3 2024 Consumer Default Index (CDIx) reveals a record high appetite for credit, coupled with a slight improvement in the overall default rate, suggesting a potential turning point in consumer financial health. The improving economic outlook, driven by factors such as reduced interest rates and lower inflation, contributes to this cautiously optimistic perspective.