WC creates 5,000 jobs

The Western Cape economy has created 5,000 jobs in the first three months of 2012.

"Farming. Picture: AFP.

CAPE TOWN - A quarterly report on the Western Cape economy shows 5,000 jobs were created in the first three months of 2012.

Although provincial economic growth slowed, it still exceeded the national average.

On Thursday, a report from the Bureau of Economic Research was released.

The agricultural sector created most jobs in the province, the document found.

Job losses were recorded in the manufacturing and retail sectors.

Business confidence in the province fell to 45 index points, down from 49 in the first half of 2012.

Household expenditure also slowed.

Lower levels of consumer spending impacted the regional economy, economists from the bureau revealed.

A weaker rand propped up the province's exports, but it was not be enough to offset the effects of a slowdown in global demand.