South Africa’s gross spending up 2.1% in Q3

JOHANNESBURG    –  South Africa’s real gross domestic product expenditure rose by 2.1 percent in third quarter after expanding by a revised 2.7 percent in the second quarter, the statistics agency said on Tuesday.

Household expenditure increased by 2.6 percent in the three months to September after increasing by 4.7 percent in the previous three months.

Government expenditure was down 0.5 percent after rising by 1.4 percent in the previous quarter.

Gross fixed capital formation rose by 4.3 percent from a 2 percent contraction previously. Exports of goods and services were down 10.3 percent while imports fell 13.7 percent.(Reuters)

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