{"id":731593,"date":"2023-11-16T13:54:13","date_gmt":"2023-11-16T11:54:13","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=731593"},"modified":"2023-11-16T13:54:13","modified_gmt":"2023-11-16T11:54:13","slug":"red-flags-for-south-africas-economy","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/731593\/red-flags-for-south-africas-economy\/","title":{"rendered":"Red flags for South Africa’s economy"},"content":{"rendered":"\n

The BankservAfrica Economic Transactions Index (BETI) dropped in October 2023 to its lowest level since November 2022, which is alarming news for the South African economy in Q4. <\/p>\n\n\n\n

\u201cReaching an index level of 131.0, lower than the revised 133.5 reported in September 2023, and only 0.1% higher compared to a year ago, these concerning figures suggest 2023 will not end on a high note,\u201d said Shergeran Naidoo, BankservAfrica\u2019s Head of Stakeholder Engagements.<\/p>\n\n\n\n

The BETI had already shown that the economy lost momentum in Q3, but the latest figure shows that this lost momentum has gone into Q4. <\/p>\n\n\n\n

\u201cAlthough economic activity surprised to the upside during the first half of the year, a growing number of indicators point to a lacklustre second half,\u201d said Elize Kruger, Independent Economist.<\/p>\n\n\n

\n
\"\"<\/a><\/figure><\/div>\n\n\n

The narrative around the economy remains underwhelming due to load shedding, high interest rates, low confidence levels and a weak job market. <\/p>\n\n\n\n

Although several industries have built up their resistance to load shedding in recent months, the economy is still not gaining enough momentum. <\/p>\n\n\n\n

Inflation started ticking higher in August following the notable uptick in fuel price hikes. However, the international oil price has subsided in recent weeks, meaning that prices should continue to drop.<\/p>\n\n\n\n

\n
Here is the expected petrol price for December<\/a><\/blockquote>