Encouraging uptick for the BETI in June ~
After months of sideways movements, the BankservAfrica Economic Transactions Index recovered in June 2023 providing an encouraging outlook for South Africa’s economy in the second quarter.
“Although the index has been choppy in recent months, moving mostly sideways in the past year, the recovery in June is encouraging and reflects the positive impact of a few specific factors in the economy in June,” explains independent economist Elize Kruger. “The moderation in consumer inflation will go some way in reducing the extent of the erosion of purchasing power that households have had to deal with, especially in the past year,” comments Kruger.
Like the BETI’s findings, domestic new vehicle sales exceeded expectations in June, despite the rising interest rates, unemployment and higher price challenges.
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