Thanks to the increase in spending money on miscellaneous goods and services, such as household equipment, clothing and footwear, South Africa’s GDP expenditure increased at an annualised rate of 4.7% in the first quarter of this year.
Statistics South Africa (StatsSA) said on Tuesday that insurance-related products and retail goods were significant contributors, that spurred on eager homemakers to splurge.
Clothing and footwear expenditure increased by a whopping 22.2%, with furnishings, household equipment, and maintenance surging by 8.9%.
Health-related spending increased by 6.6%, recreation and culture spending by 6.5%, and communication by 6%.
The lifting of the ban on the sale of alcoholic beverages and cigarettes saw this sector enjoy a 2.5% increase.
However, owing to many businesses opting to allow employees to work from home, housing, water, electricity, gas and other fuels increased by 2.1%.
Working from home’s effects were also observed with transport expenditure falling by 1.9%.
Restaurants and hotels, suffering since March 2020, saw less patrons, and due to having to adhere to restrictions when accommodating customers, saw a decline of 3%.