Pretoria - Spending growth in South Africa slowed to an annualised 2.7% in the second quarter of 2013 from 3.5% in the first quarter, partly due to a brake in government consumption, the South African Reserve Bank (Sarb) said on Tuesday.
The expansion of government spending eased to 2.1% in the second quarter from 3% in the previous three months, while the accumulation of inventories also slowed, the bank said in its September quarterly bulletin.
However, household spending was up 2.5%, quickening slightly from 2.3% in the previous three months. The pace of increase was still lower than the average rate of growth recorded during the past three years.
The expansion of government spending eased to 2.1% in the second quarter from 3% in the previous three months, while the accumulation of inventories also slowed, the bank said in its September quarterly bulletin.
However, household spending was up 2.5%, quickening slightly from 2.3% in the previous three months. The pace of increase was still lower than the average rate of growth recorded during the past three years.