SA’s economic transactions improve for second consecutive month – BankservAfrica

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Published Sep 13, 2017

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JOHANNESBURG - BankservAfrica Economic Transaction Index (BETI) on

Wednesday said it has increased by more than 1% in real terms on a year-on-year

basis for the first time.  

In a statement, BETI said with August transactions on the

national payments system reflecting a 1.2% increase in the value. A second consecutive increase points to a seeming break in

the streak of declines noted in previous months.

“Both the monthly and quarterly changes also increased,

which is the first time since April 2016 that all three period measures are

positive. The strong monthly and quarterly increases of 1.5% and 1.9%

respectively are also indicative of a very strong economic performance by the

overall economy.”

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The company said this is an improvement is a great bounce

back for the South African economy especially if sustained.

“August, in general, seems like a very strong economic

transaction month and shows a lot of economic activity coming to the fore. Real

time clearing, for example, recorded the highest growth with a staggering 32.6%

increase on a year ago.” The number of transactions and the nominal value also bounce

upwards

In August the number of transactions showed a 6.1% growth

valued at 94.9 million, a continued trend from previous months. The total

monetary value of the transactions also increased with a staggering 9.3% in

nominal terms.

“The average size of the transaction increased by just 3%

but has increased compared to a year ago, unlike the previous four months,

which show that the average transaction size declined.”

The standardised value of the total transactions was R817.9

billion for August 2017, which was the first time that a month outside of

December reached the R810 billion levels.  

While nominal levels are only a relative indication it does

seem that the jump in value is higher than usual and indicates that significant

economic activity was held back by the recent downgrades.

- BUSINESS REPORT ONLINE 

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