South Africa Household Sector (Quarterly Report) - April 2015

Services remained the biggest component at 42.5% in the third quarter of 2014. Growth in durable goods expenditure (consisting mainly of vehicles, furniture, equipment and appliances), rose from 8.4% of total HCE in 2009 to around 10.5% in 2014. It would appear as though the interest increases—although fairly small—have served to curtail the strong rate of growth in this component, which averaged 9% in 2013, by about half the rate in 2014.

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