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
South Africa central bank deprioritises retail CBDC as national payment reforms take priority
The South African Reserve Bank (SARB) has issued a new position paper assessing the feasibility of a retail central bank digital currency, concluding that South Africa does not currently have a ... more
Uganda’s Gogo Electric secures $1mn from EU-backed ElectriFI to scale battery-swap e-mobility network
Ugandan electric mobility startup Gogo Electric has secured $1mn in funding from the EU-funded Electrification Financing Initiative (ElectriFI), the company announced this week, marking a significant ... more
Cell C debuts on Johannesburg Stock Exchange with $490mn valuation amid restructuring
Cell C Holdings (JSE:CCD) listed on the Johannesburg Stock Exchange this week, marking a significant step in the company’s multi-year restructuring programme. The shares closed at ZAR26.50 each, ... more
Most Read
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago