14 Sep 2011THE Reserve Bank highlighted weakness in the economy yesterday, warning that growth was not fast enough to support job creation and fanning speculation that an interest rate cut could be on the cards later this year.
Household spending, the economy’s mainstay, slowed markedly in the second quarter of this year, Monde Mnyande, the Bank’s chief economist, said at the release of the Bank’s quarterly bulletin for September yesterday.
Growth in household spending slowed to 3,8% in the second quarter, from 5,2% in the first, the quarterly bulletin showed. That was its slowest pace since the third quarter of 2009, when the economy was in recession.
http://www.businessday.co.za/articles/Content.aspx?id=153282
