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SA Economy Slowly Recovering| News by Staff Reporter
This is according to the Beti released on Monday
The South African economy is in a state of recovery, according to the BankservAfrica Economic Transaction Index (Beti).
The Beti, released on Monday 14 May, showed that the South African economy was recovering, albeit slowly.
Brad Gills, CEO of regulated products at BankservAfrica, said, “Whilst the economy is not treading water, but actually moving ahead, the pace does seem pedestrian.”
The current growth rate in the Beti is 3,7% year-on-year, lower than the average increase of 4,3% year-on-year over the past seven years.
The last five Betis, according to BankservAfrica, also came in below the average of 4,3%.
Mike Schüssler, chief economist with economists.co.za said “This indicates that the economy certainly has some underlying growth left, as the Beti remains positive.
“However, the smoothed weighted Beti indicates that below average growth will probably remain with us for the first half of 2012,” adding that the economy was on “a recovery rather than a boom path