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The South African economy is recovering.



RELATED: [WATCH] President Cyril Ramaphosa details his economic recovery plan



Transactions between banks – a good indicator of the “real” economy – has increased for the fourth month in a row in September.

Economists.co.za’s BankservAfrica Economic Transactions Index (BETI) is up 2.7% for the month to R930.6 billion, the highest value so far this year.

It forecasts an annualised Gross Domestic Product (GDP) growth rate of between 40% and 50% for the third quarter of 2020 – the fastest on record.

By that measure, GDP fell by 51% in Q2/2020.

Economists.co.za says it’ll take at least three years for the economy to reach pre-lockdown levels.



For more detail, read: Swoosh! BETI data suggest there was big economic bang in Q3 – Daily Maverick (by Ed Stoddard)



This article first appeared on CapeTalk : South Africa’s kneecapped economy is recovering fast

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