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Africa, News

South Africa’s first quarter expenditure on GDP down 2.3% q/q

PRETORIA (Reuters) – South Africa’s first-quarter expenditure on gross domestic product (GDP) contracted by 2.3% in quarter-on-quarter terms after contracting by 1.2% in the fourth quarter of last year, the statistics agency said on Tuesday.

Household expenditure grew 0.7% in the first quarter, government expenditure was up 1.1%, while gross fixed capital formation shrunk by 20.5%.

(Reporting by Mfuneko Toyana; Editing by Olivia Kumwenda-Mtambo)

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