Pretoria - Real disposable income of South African households accelerated to 5.1 percent in the first quarter of 2010, the Reserve Bank said on Thursday.
The fourth quarter of 2009 registered an annualised rate of 2.3 percent.
According to the central bank's Quarterly Bulletin, real disposable income of the household sector was supported by among other things higher employment levels at the provincial government level, increases in the remuneration of public servants and the decline in the interest level.
"The ratio of household debt to disposable income receded from 79.9 percent in the fourth quarter of 2009 to 78.4 percent in the first quarter of 2010," said the bank.
It added that the ratio of debt-service cost to disposable income decreased marginally from 8.3 percent in the fourth quarter of 2009 to 8.2 percent in the first quarter of 2010.
Additionally the bulletin noted the current-account deficit to 4.6 percent of gross domestic product in the first quarter of 2010 compared with a ratio of 2.9 percent in the fourth quarter of 2009.
It said that notwithstanding a further increase in economic activity in most of South Africa's trading partner countries, the balance on the trade account of the balance of payments turned from a surplus in the final quarter of 2009 to a deficit in the first quarter of 2010.
"Consistent with the improvement in business and consumer confidence in the country, expenditure on foreign-produced goods advanced further in the opening months of 2010 following a marked increase in the final quarter of 2009.
"Consequently, the country's trade balance reverted to a deficit of R12,9 billion in the first quarter of 2010 from a surplus of R24,9 billion in the fourth quarter of 2009," said the bank.
