SA’s economic activity is worsening, data show | City Press

The BankservAfrica Economic Transactions Index fell in February 2023, signalling the country’s deteriorating economic activity. After two consecutive months of growth, the index fell by 1.3% to 131 index points in the month. On a year-on-year basis, the BETI was down 1.9%.

The economy remains in a ‘muddle-along-little-thriving’ narrative. While actions were recently taken and projects have been announced in the energy and transport sectors of the economy, little reprieve can be expected in the short term. “During the month, the value of standardised nominal value of transactions was R1.17 trillion in February, a growth from the R1.04 trillion in January. However, the volume of transactions slowed to 133.0 million during the month, compared with the 135.7 million tracked in January,” according to Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements.

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