A second consecutive increase in economic transactions was noted in June by BankservAfricas Economic Transactions Index BETI.
The BETI measures the value of all electronic transactions cleared through BankservAfrica on a monthly basis at seasonally adjusted real prices.
The value of economic activity ticked up in June to an index level of 139.1, representing a 0.4 monthly growth.
Independent economist Elize Kruger says the BETI increase points to economic growth in the second quarter of the year.
The Bankserv economic index increased by 0.4 in the month of June, a second consecutive monthly increase indicative of accelerated economic activity towards the end of quarter 2. Hopefully this will also be reflected in our GDP numbers in quarter 2 to be released in the first week of September. Some sectors are gaining and are doing better, especially mining and manufacturing will likely contribute positively to quarter too. Weve also seen an improvement in confidence levels in the second quarter, and we also have quite a few structural powers in the South African economy."
