The BankservAfrica Economic Transaction Index tracks interbank electronic payment transactions under R5m
Economic activity, reflected in electronic payments transactions, plummeted to its lowest level on record during April, as SA’s economy went all but dormant during full lockdown to halt the spread of the coronavirus.
During April the BETI declined 13.9%, on an annual basis, 15.2% on a quarter-on-quarter basis, while the index fell 12.3% from the month before.“The latest data provides a clear and broad indication of an economic collapse due to the coronavirus pandemic and the subsequent nationwide lockdown,” Mike Schüssler, chief economist at economists.co.za, said in a statement on the data.
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