Consumption spending
Channel: econom
Date: 2015-11-24

The biggest spender in the economy is households. In South Africa it accounts for approximatly 62% of total expenditure. This makes it a crucial sector for the South African economy, and changes in consumption expenditure, even small changes, by households therefore have a major impact on the South African economy.
Final consumption expenditure by households (C) includes anything from spending on refrigerators to medical services to movie tickets to food. In the national accounts of South Africa, final consumption expenditure by households is classified in terms of durable goods, semi-durable goods, non-durable goods and services.