South Africa's leading business cycle indicator edges up in February
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
South Africa’s MTN to invest $350mn in Iranian broadband
South Africa’s MTN said it has agreed, on a non-binding and preliminary basis, to invest an initial $350mn into Iranian fixed broadband provider Iranian Net. The investment will give ... more
South Africa receives another downgrade to junk
Fitch Ratings on April 7 downgraded South Africa to junk status following the removal of Pravin Gordhan as finance minister and the enusing political crisis. Fitch's downgrade to 'BB+' ... more
S&P downgrades South Africa's credit rating to junk after cabinet reshuffle
Standard & Poor’s ratings agency has cut South Africa's sovereign credit rating to 'BB+' from 'BBB-' and the long-term local currency rating to 'BBB-' from 'BBB', both with a negative ... more
Selected articles from our premium news/views wire 
IntelliNews Pro
IntelliNews- Moody's places Azerbaijan's rating on watch for downgrade
- Waberer’s finally set to deliver an IPO on Hungarian bourse
- Macedonian interior ministry suspends 16 police officers over parliament storming
- Six Albanian ministers to leave their posts under deal between government and opposition
- Ukrainian parliament refuses to endorse preparations for land reform despite IMF demands
- More from IntelliNews Pro >>
Most Read This Week
- IBA's default expected to damage Azerbaijan's international reputation
- STOLYPIN: The US-Russian “axis of emptiness”
- COMMENT: Putin's main weakness is voters' passivity
- Vodka oligarch steps up Stolichnaya brand fight with Kremlin
- CONFERENCE CALL: Europe slowly wakes up to Russian disinformation threat
Follow Us On
Tweets by @bizneweuropeRegister here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.
To continue viewing our content you need to complete the registration process.
Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
If you have any questions please contact us at sales@intellinews.com
Subscribe to bne IntelliNews website and magazine
Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.Your subscription includes:
- Full access to the bne content daily news and features on the website
- Newsletters direct to your mailbox
- Print and digital subscription to the monthly bne magazine
- Digital subscription to the weekly bne newspaper
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
bne IntelliNews
$119 per year
All prices are in US dollars net of applicable taxes.
If you have any questions please contact us at sales@intellinews.com
Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.
Already a subscriber or registered - click here to recover access.
If you a IntelliNews Pro user - click here to login.
Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.
IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.
"No day starts for my team without IntelliNews Pro" — UBS
Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.