The South African Reserve Bank said its composite leading business cycle indicator increased by 0.1% m/m in February 2013, moving higher for the eighth month in a row. The indicator, which gathers data such as vehicle sales, job advertisements, business confidence, manufacturing orders and money supply to estimate the economic outlook, was by 1% higher y/y in February, following a 1.9% y/y growth in January. Leading indicators are a popular way to predict turning points in the business cycle.
The central bank said that 4 of the indicator’s 11 components improved in February, with the largest positive contributions coming from an increase in the number of residential building plans approved and from an improvement in the business confidence index.
Among the 7 components that decreased, the largest negative contribution came from a decrease in the 12-month percentage change in job advertisement space, followed by a deceleration in the 12-month percentage change in the number of new passenger cars sold.
Related Articles
Perseus Mining launches binding bid for Predictive Discovery to boost West Africa gold growth
Perseus Mining (ASX/TSX:PRU) has issued a definitive binding offer to acquire all the shares in Predictive Discovery (ASX:PDI) that it does not already own, valuing the Guinea-focused gold explorer ... more
Africa Bitcoin Corporation widens cross-border footprint with Frankfurt listing, multi-exchange strategy
Africa Bitcoin Corporation (ABC), formerly Altvest Capital Limited, has listed on the Börse Frankfurt Quotation Board. The move marks the South Africa-based Bitcoin treasury and SME-finance firm’s ... more
Africa Finance Corporation secures $524mn-equivalent Samurai loan amid rising Japanese demand
Africa Finance Corporation (AFC), the pan-African infrastructure financier, has closed a $524mn-equivalent dual-currency Samurai term-loan facility, marking its largest such transaction to date and ... more
Most Read
-
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