Cape Town - Interbank transactions under R5m in May recorded its largest drop in a single month since August 2008, the 2016 BankservAfrica Economic Transaction Index (Beti) revealed on Wednesday.
The Beti is a measure of all South African interbank transactions under
R5m, giving a broad picture of the current SA economy. The drop in May
is flouting the positive growth trend shown in the three previous
"The Beti index is showing a very big decline in May - after three good months. Remember, we do not pick up much of the mining activity as we only use transactions under R5m for the Beti," Mike Schüssler, chief economist at Economists dotcoza, told Fin24.