PRETORIA, March 19 (Reuters) – Spending growth in South
Africa’s economy quickened in the fourth quarter of 2011, helped
by increased spending by both households and the government, the
central bank said on Monday.
In its March Quarterly Bulletin, the South African Reserve
Bank said growth in aggregate real gross domestic expenditure
accelerated to an annualised 5.1 percent in the fourth quarter
from 4.8 percent in the second quarter.
Household expenditure was up 4.6 percent in the last three
months of the year, compared with a 3.8 percent rise in the
third quarter.
“This faster pace of spending was consistent with a further
increase in disposable income of households and positive wealth
effects,” the central bank said.
It said the growth in spending by households was seen across
all categories, with spending on services in particular
regaining momentum.
The ratio of household debt to disposable income inched lower
to 74.6 percent in the fourth quarter from 75.6 percent in the
third.
(Reporting by Stella Mapenzauswa, editing by Ed Stoddard)
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