Consumer spending Consumer spending will experience a partial recovery in 2017, according to BMI Research, citing easing inflation pressures. But consumer spending would remain below potential in the medium term, from 2017 to 2021, according to BMI Research’s forecast, released on Monday. It put real household spending growth at 0.7% for 2017, after a 1.7% contraction in 2016. "Household spending in SA will grow at an average annual rate of 8% over our forecast period — increasing from R2-trillion in 2017 to R2.8-trillion in 2021," BMI Research said. It said household spending over the medium-term forecast period would be bolstered by "significant income gains". Consumer spending accounts for the lion’s share of SA’s economy, which slipped into a technical recession in the first quarter of 2017.
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