South African Q2 consumer confidence plunges to 14-1/2 year low

JOHANNESBURG (Reuters) - South Africa's consumer confidence index fell deeper into negative territory in the second quarter of the year, hitting its lowest in more than 14 years as higher petrol prices, a rise in debt servicing costs and unemployment dented sentiment. The index registered -15 in Q2 from -4 in the first three months of 2015, compilers First National Bank (FNB) and the Bureau for Economic Research said. This is the first time it has dropped below -12 since the end of white apartheid rule in 1994. "Since the end of March, a barrage of adverse developments has now further dented consumer sentiment regarding South Africa's economic prospects," said Sizwe Nxedlana, chief economist at FNB.