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South Africa’s kneecapped economy is recovering fast

15 October 2020 3:24 PM
Tags:
Gross Domestic Product
GDP
Economy
Economic growth
GDP Growth
Economists.Co.Za
economic recovery
BankservAfrica Economic Transactions Index
BETI

Economists.co.za expects annualised Q3/2020 GDP growth of between 40% and 50% – the fastest on record.

The South African economy is recovering.


RELATED: [WATCH] President Cyril Ramaphosa details his economic recovery plan


© kagenmi/123rf.com

Transactions between banks – a good indicator of the “real” economy – has increased for the fourth month in a row in September.

Economists.co.za’s BankservAfrica Economic Transactions Index (BETI) is up 2.7% for the month to R930.6 billion, the highest value so far this year.

It forecasts an annualised Gross Domestic Product (GDP) growth rate of between 40% and 50% for the third quarter of 2020 – the fastest on record.

By that measure, GDP fell by 51% in Q2/2020.

Economists.co.za says it’ll take at least three years for the economy to reach pre-lockdown levels.


For more detail, read: Swoosh! BETI data suggest there was big economic bang in Q3 – Daily Maverick (by Ed Stoddard)



15 October 2020 3:24 PM
Tags:
Gross Domestic Product
GDP
Economy
Economic growth
GDP Growth
Economists.Co.Za
economic recovery
BankservAfrica Economic Transactions Index
BETI

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