BankservAfrica press releases

Slower but positive increase for take-home pay in September

Take-home pay in September increased at a slower rate than August due to the majority of backdated government salaries having been paid out. Interestingly, the BankservAfrica data reveals that there have been minimal increases to the average take-home pay since September 2013 – providing a strong indication of the struggling economy in the last five years.

Take-home pay reflects massive increase in August

The backdated salary payments in the public sector continued to spur the increase in BankservAfrica’s Take-home Pay Index for August. Real salaries showed improvements on both an annual and monthly basis.

BankservAfrica’s monthly index reflects SA’s technical economic recession

“The monthly BETI is a now indicator that tracks South Africa’s economic performance in near, real-time terms, using BankservAfrica economical transactional data against South Africa’s main economic growth drivers,” explains Shergeran Naidoo, Head of Stakeholder Engagement: BankservAfrica. “As such, by way of the BETI we were able to track the declines on both data sets that revealed the below par performance of the economy. There were, however, some changes on the BankservAfrica index such as the salary changes which led to an increase in consumer spending, and is reflected as growth in the BETI.

SA’s take-home pay improves

South Africa’s take-home pay for July reflected a 0.3% real month-on-month improvement due to salary adjustments and back payments for public servants, according to BankservAfrica’s monthly Take-home Pay Index in July. Meanwhile, BankservAfrica’s Private Pensions Index (BPPI) showed average increases at its strongest levels since 2012.

SA economic slowdown prompts declining economic transactions in July

BankservAfrica’s latest data suggests gains in first three months of 2018 is retreating as economy struggles

The South African economy continues to show signs of slowing down as indicated in BankservAfrica’s Economic Transaction Index (BETI) where economic transactions in July tracked lower across all reporting periods.

Real-take home takes a fall in June - BankservAfrica

Real-take home pay for June experienced its largest decline since early 2017 owing to rising inflation and the delay of annual salary adjustments and back-pay in the public sector, the leading employer in South Africa. This is likely to have an impact on the economy with consumer spending expected to take a knock.

SA take-home pay levels expected to remain under pressure until July

Take-home pay declined dramatically for May as government wage settlements were delayed.  According to the BankservAfrica Take-home Pay Index (BTPI) for May, the delay dragged down average real take-home pay and is likely to continue until July. The BankservAfrica Private Pensions Index (BPPI) for May however continued its 15-month consecutive increase trend bolstering consumer spending in the economy.

Economic transactions show rapid declines in May

The BankservAfrica Economic Transaction Index (BETI) for May reflected the most significantly noticeable monthly decline, since December 2016.