{"id":22052,"date":"2012-09-13T13:13:19","date_gmt":"2012-09-13T11:13:19","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=22052"},"modified":"2012-09-13T13:59:28","modified_gmt":"2012-09-13T11:59:28","slug":"south-african-economy-shows-slow-recovery","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/22052\/south-african-economy-shows-slow-recovery\/","title":{"rendered":"South African economy shows slow recovery"},"content":{"rendered":"<p>An economic index released on Thursday (13 September 2012) showed South Africa moving from stagnation to a slow recovery, Bankserv Africa said.<\/p>\n<p>The monthly Bankserv Africa Economic Transaction Index (<a title=\"BETI\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/4842-Bankserv-Africa-Economic-Transaction-Index-%28BETI%29\">BETI<\/a>) confirmed international trends towards slow growth.<\/p>\n<p>&#8220;The BETI confirms the trend whereby a slow recovery seems to be the new normal across the globe,&#8221; said <a title=\"Bankserv Africa\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2957-BankservAfrica\">Bankserv Africa<\/a> spokesman Brad Gillis.<\/p>\n<p>The index provides close to real-time information on economic movements, based on banking transactions in South Africa.<\/p>\n<p>In South Africa, the BETI showed a month-on-month recovery of 0.6 percent in the economy for August.<\/p>\n<p>This was the first positive growth in four months.<\/p>\n<p>The BETI also showed a relatively strong year-on-year improvement of 2.9 percent. The actual BETI was thus higher than in August, but clearly lower than the April to June levels, indicating a weak economic recovery.<\/p>\n<p>Economist <a title=\"Mike Schussler\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/4843-Mike-Schussler\">Mike Schussler<\/a> said the positive news from the index would not translate into massive growth in the next few months.<\/p>\n<p>&#8220;Rather, it is an indication of our economy fighting to get back on its feet,&#8221; he said.<\/p>\n<p>&#8220;Year-on year and quarter-on-quarter, the numbers look good, but month-on-month it still shows a decline.&#8221;<\/p>\n<p>This showed South Africa was recovering, but at a slow pace.<\/p>\n<p>Schussler expected world growth indications to move lower for the next year, with indications that China&#8217;s economy was stalling.<\/p>\n<p>China&#8217;s export growth had fallen below three percent, with manufacturing stagnant.<\/p>\n<p>&#8220;The lower growth is perhaps good news in that jobs will be retained, but we should not expect significant growth in the labour market,&#8221; he said.<\/p>\n<p>&#8220;We can count ourselves lucky that we have actually seen some jobs created in the first half of the year, despite very low economic growth.&#8221;<\/p>\n<p>Low interest rates and a higher government deficit were likely.<\/p>\n<p id=\"related\"><strong>Related articles<\/strong><\/p>\n<p><a title=\"BusinessTech Article\" href=\"http:\/\/businesstech.co.za\/news\/internet\/21567\/sa-behind-tunisia-in-africa-web-ranking\/\"><strong>SA behind Tunisia in Africa Web ranking<\/strong><\/a><\/p>\n<p><a title=\"SA online economy at 2.5% of GDP by 2016\" href=\"http:\/\/businesstech.co.za\/news\/internet\/13871\/sa-online-economy-at-2-5-of-gdp-by-2016\/\"><strong>SA online economy at 2.5% of GDP by 2016<\/strong><\/a><\/p>\n<p><a title=\"SA online economy at R103bn by 2016\" href=\"http:\/\/businesstech.co.za\/news\/general\/13866\/sa-online-economy-at-r103bn-by-2016\/\"><strong>SA online economy at R103bn by 2016<\/strong><\/a><\/p>\n<p><a title=\"BusinessTech Article\" href=\"http:\/\/businesstech.co.za\/news\/general\/12018\/africas-biggest-gdp-players-compared\/\"><strong>Africa\u2019s biggest GDP players compared<\/strong><\/a><\/p>\n<p><a title=\"SA Internet stats for 2011 revealed\" href=\"http:\/\/mybroadband.co.za\/news\/internet\/49533-sa-internet-stats-for-2011-revealed.html\"><strong>SA Internet stats for 2011 revealed<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An economic index released on Thursday showed South Africa moving from stagnation to a slow recovery, Bankserv Africa said.<\/p>\n","protected":false},"author":4,"featured_media":22054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4107,4108,1740,26,4109,853],"class_list":["post-22052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-bankserv","tag-beti","tag-economy","tag-headline","tag-mike-schussler","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=22052"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22052\/revisions"}],"predecessor-version":[{"id":22067,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22052\/revisions\/22067"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/22054"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=22052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=22052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=22052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}