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Third quarter off to bad start for SA economy

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Cape Town - South Africa's economic activity is slowing again dramatically, as reflected in the latest BankservAfrica Economic Transaction Index (Beti) released on Thursday.

The Beti measures all South African interbank transactions under R5m. The latest data reveals that the quarterly drop in economic transactions is the biggest decline in 18 months.

“This data shows there is a broader slowdown among all of the country’s main economic sectors at present,” said Mike Schüssler, chief economist at Economists dotcoza.

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