The Consumer Vulnerability Index (CVI) for South Africa reached a low of 38 in 2004 before starting a steep increase to 65 in 2008. The global credit crisis helped to bring the index back to 53 by 2011 where it drifted sideways for around four years before declining further to below 48 in 2017. The index did rise slightly to its long-term average value of 50 from late 2017 to early 2020. The CVI showed sharp spikes in 2020 related to data distortions caused by covid measures. Compared with a year ago, five of the individual components’ vulnerability scores remained unchanged. Employment was much improved, although this was still due to the job losses having occurred due to covid. Debt servicing costs, insolvencies growth, and real net wealth per capita deteriorated.
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