Cees Bruggemans Quotations

Looking forward, consumer confidence could increase further should the rise in black consumer confidence persist.

Even those over 50 joined the bandwagon changing their minds about South Africa's economic prospects by 9 points to 21.

The rise in consumer confidence in general indicates that consumers' willingness to spend additional income and incur more debt remains strong. Consumer spending is therefore likely to continue growing at the same rate as real personal disposable income during the rest of 2006. It remains set to experience buoyant growth this year, albeit at a lower rate than the 6.9% recorded in 2005.

Consumer confidence is poised to remain strong during 2006, which will continue to support consumer spending.

The index has therefore moved to a higher level and instead of falling sharply as it has always done in the past, has remained at a higher level for five consecutive quarters. This seems to suggest a sustained, long economic expansion.