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Dec 10, 2020
The BankservAfrica Economic Transactions Index (BETI) fell flat in November 2020, suggesting lower economic growth for Q4 2020, which may lead to reduced spending over the December holiday break.
“The BETI was 121.8 in November 2020, which represents a 0,1% monthly decline. This is the first in six months following the strong rebound that carried the economy forward,” says Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements.
“But, as we can see in the latest data, this is slowing down. Businesses and consumers are holding back on their spending to the extent that Black Friday 2020 – or ‘Black November’ – failed to deliver for the South African economy.”