South Africa’s economic growth is forecast to decelerate in the third quarter of 2023

Siphelele Dludla

ECONOMIC growth in South Africa is expected to decelerate in the third quarter as the lagged effects of the upwards interest rate cycle since November 2021 and accelerating inflation continue to affect consumer spending, in spite of the improvements on the productive sectors on the back of reduced power cuts. This comes as the BankservAfrica’s Economic Transactions Index (Beti) recently showed that the value of economic transactions in the economy declined by 0.7% in the third quarter, indicating the potential for lower gross domestic product (GDP) in the period. The BankservAfrica Beti is a robust early economic scorecard for South Africa in general, specifically in terms of growth trends, and correlates highly with the South African Reserve Bank’s (SARB) co-incident indicator, as well as with GDP figures, while appearing quarter…

You're reading a preview of

Cape Times (Digital) - 1 Issue, 2023-10-23

DiscountMags is a licensed distributor (not a publisher) of the above content and Publication through Zinio LLC. Accordingly, we have no editorial control over the Publications. Any opinions, advice, statements, services, offers or other information or content expressed or made available by third parties, including those made in Publications offered on our website, are those of the respective author(s) or publisher(s) and not of DiscountMags. DiscountMags does not guarantee the accuracy, completeness, truthfulness, or usefulness of all or any portion of any publication or any services or offers made by third parties, nor will we be liable for any loss or damage caused by your reliance on information contained in any Publication, or your use of services offered, or your acceptance of any offers made through the Service or the Publications. For content removal requests, please contact Zinio.