The South African Reserve Bank said that its composite leading business cycle indicator decreased by 0.6% m/m in June, after dropping by 0.4% m/m in May. Leading indicators are a popular way to predict turning points in the business cycle.
Ten component series were available for June, and six of them dropped, while the remaining four rose. In June, the largest negative effect was attributed to a decline in the number of approved residential building plans, followed by a decrease in the export commodity price index. On the other hand, major positive contributions resulted from a widening of the interest rate spread, as well as acceleration in the six-month smoothed growth rate in the real M1 money supply.
In y/y terms, the composite leading business cycle indicator increased by 2.4% in June, after rising by 2% in May.
Related Articles
Guinea-Bissau soldiers announce seizure of power as post-election tensions deepen
Soldiers in Guinea-Bissau appeared on state television on Wednesday (November 26) saying they had seized power, hours after gunfire was reported near the presidential palace in Bissau, three days ... more
Guinea-Bissau president says coup attempt underway as gunfire erupts in capital
Guinea-Bissau’s President Umaro Sissoco Embaló said on November 26 that a coup was underway in the country, telling Jeune Afrique he had been detained by soldiers at the presidential palace in ... more
Vodacom taps Google Cloud to accelerate AI-driven transformation across Africa
Vodacom (JSE:VOD) has signed a strategic collaboration agreement with Google Cloud, enabling the South African operator to deploy advanced AI and data-analytics tools across its African markets. The ... more
Most Read
-
US expands oil sanctions on Russia
1 month ago
-
India’s smart metering push gains momentum
4 months ago