NVDL: Intwisting, but I'm inclined to wonder: for how long? Reality always seems to take a while to catch on down here.
CONSUMER confidence in SA has bucked the trend overseas by increasing in the first quarter of 2009, the BER consumer confidence index showed today. The index increased by five index points, from -4 during the fourth quarter of 2008 to +1 during the first quarter of 2009. First National Bank chief economist Cees Bruggemans said the global economy had deteriorated further since the previous survey was conducted during November 2008. "Economic growth contracted sharply in many countries, millions of people were laid off, some countries experienced bank crises and share prices tumbled further," he said in a statement. Consumers in many parts of the world were gripped by fear. "The global economy is heading for its biggest contraction since the Second World War. Consumer confidence has dropped to near record lows in the USA and parts of Europe."
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