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South Africa's gross spending up 2.4 percent in second quarter
September 5, 2017 / 9:51 AM / in 3 months

South Africa's gross spending up 2.4 percent in second quarter

PRETORIA, Sept 5 (Reuters) - South Africa’s real gross domestic expenditure expanded by 2.4 percent in the second quarter of 2017 after contracting by a revised 0.7 percent in the first quarter of 2017, the statistics agency said on Tuesday.

Household expenditure increased by 4.7 percent in the second three months of the year after contracting by 2.7 percent in the previous three months.

Government expenditure was up 0.8 percent after contracting by 1.7 percent in the previous quarter.

Gross fixed capital formation contracted by 2.6 percent from a 1.3 percent expansion previously. Exports of goods and services were up 14.4 percent while imports also grew, by 13.3 percent. (Reporting by Mfuneko Toyana; Editing by James Macharia)

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