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Glimmer of hope for SA economic growth

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(iStock)
(iStock)

Cape Town - The April 2016 BankservAfrica Economic Transaction Index (Beti) seems to indicate a stronger economy, particularly after an extremely weak January, according to Mike Schüssler, chief economist at Economists dotcoza.

He emphasised, however, that the numbers in the upcoming months will be critical in confirming or disproving this trend. The number of transactions counted for use in the latest Beti was 87.8 million for the month. The standardised nominal value increased 8% on a year ago to R766bn.

The lack of Easter holidays last month has helped the April 2016 Beti to maintain its growth momentum from March.

In 2016 the Easter public holidays fell in March, making April a stronger month with a reduced number of public holidays - from four to three - which has a momentum effect for the quarter. This shift in holidays and the leap year have, therefore, had a positive effect on the economy, Schüssler explained.

"I don't think the economy necessarily out of trouble," Schüssler told Fin24 on Wednesday. "It is rather more like the lighter of a cigarette that the cold winds of a recession will hopefully not blow out."

READ: Modest growth still supporting SA economy - index

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