South Africa's leading business cycle indicator down 0.6% m/m in June 2013.

By bne IntelliNews August 21, 2013

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Ghana inks nuclear power agreement with China, advancing clean energy goals

Nuclear Power Ghana Limited and China National Nuclear Corporation Overseas Limited have sealed a deal, marking a milestone in Ghana's energy landscape, reports Asaase Radio.  The agreement ... more

South Africa needs surplus electricity from solar plants, says minister

South Africa’s Electricity Minister Kgosientsho Ramokgopa has called for discussions to assess ways of making surplus electricity from existing renewable energy facilities available to the grid. ... ... more

Zimbabwe commits to annual independent audits of its gold reserves underpinning new ZiG currency

Zimbabwe's government will ensure its gold reserves which underpin its newly-introduced currency, would be independently audited once yearly, The Herald reports. The southern African nation ... more

Follow Us On

Most Read

  1. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  2. Don't mention the "D" word - Ukraine
    7 days ago
  3. The models are wrong, climate change is accelerating faster than predicted
    3 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    5 days ago
  5. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    10 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    28 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    30 days ago
  4. Saudi Arabia to scale back plans for Neom city
    17 days ago
  5. Iran vs Israel: Who is better equipped for war?
    14 days ago

Reports

Dismiss