The number of banking transactions done in SA broke the 100-million barrier for the first time in March, BankservAfrica reported on Wednesday. While the volume of transactions has grown steadily for nine months in a row, the total value of transactions grew in March after a period of decline. "This improvement can be attributed to the stronger purchases ahead of the VAT increase on April 1," BankservAfrica said. The company, which acts as an electronic clearing house for the banking industry, publishes the monthly BankservAfrica economic transaction index (BETI), which it describes as the "broadest and earliest business cycle indicator on the economic calendar and gives the fastest overview of South African growth trends". Economists.co.za chief economist Mike Schüssler, who does the survey on behalf of BankservAfrica, said: "These figures support the view that the second-longest downward phase of the South African business cycle seems to be coming to an end. "The improved BETI — on...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.