Pretoria - Growth in spending in South Africa slowed to an annualised 2.7 percent in the second quarter of 2013 from 3.5 percent in the first quarter, partly due to a brake in government consumption, the Reserve Bank said on Tuesday.
The expansion of government spending eased to 2.1 percent in the second quarter from 3 percent 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 percent, quickening slightly from 2.3 percent in the previous three months.
The pace of increase was still lower than the average rate of growth recorded during the past three years. - Reuters