South African consumers are under pressure. The Consumer Credit Index compiled by Trans Union, one of the global leaders in credit and information management fell in the second quarter of this year to 43.6 percent down from 50.0 a year ago.
The index is designed to fluctuate from a minimum of 0.0 to a maximum of 100.0 with 50.0 being the breakeven point.
Levels above 50.0 are associated with higher rates of loan repayment, lower credit card utilisation, improving household cashflow, lower interest rates and credit deleveraging.
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