SARB's Guma on the SA economy

In a speech given on 4 July X.P. Guma of the South African Reserve Bank said continued brisk expansion in final consumption expenditure by households has been underpinned by a steady increase in household disposable income.

"Continued buoyancy in the real estate and securities markets and what some describe as an accommodative interest rate environment. Overall household debt as a percentage of annualised disposable income increased to a record level of 68 percent in the first quarter of 2006."

"R

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