South Africa’s gross spending down 2.5 percent in first quarter
PRETORIA (Reuters) – South Africa’s real gross domestic product expenditure fell by 2.5 percent in first quarter after expanding by 3.1 percent in the third quarter, the statistics agency said on Tuesday.
A shopper looks for items at an informal shop piloted by Pick n Pay in Soweto, South Africa February 25, 2016. REUTERS/Siphiwe Sibeko/File Photo
Household expenditure increased by 1.5 percent in the three months to March after increasing by 3.6 percent in the previous three months.
Government expenditure was up 1.2 percent after rising by 1.6 percent in the previous quarter.
Gross fixed capital formation fell by -3.2 percent from a 7.4 percent expansion previously. Exports of goods and services were down 16.5 percent while imports fell 6.5 percent.
Reporting by Mfuneko Toyana and Patricia Aruo; Editing by Joe Brock
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