South Africa Economic Activity Grew in April Even as Floods Hit
- Transactions index rose to 136.1 from revised 135.2 in March
- Economy faces looming headwinds, economist Schussler says
A resident surveys flood damage in KwaNdengezi, west of Durban, South Africa, on April 20.
Photographer: Guillem Sartorio/AFP/Getty ImagesThis article is for subscribers only.
A gauge measuring South African economic activity rose for a fourth month in April even as record-high commodity prices peaked and the worst flooding in almost three decades left more than 400 people dead, damaged businesses and halted operations at the nation’s biggest port.
The BankservAfrica Economic Transactions Index, which measures EFT-originated transactions, increased to 136.1 from a revised 135.2 in March, signaling the resilience of South African consumers and businesses, the automated clearing house said in a statement.