24 May.
The composite leading business cycle indicator decreased by 0,9 per cent in March 2011 compared with the preceding month. Seven of the ten component time series that were available for March 2011 decreased, while three increased. The largest positive contribution to the movement in the leading indicator in March came from the number of residential building plans passed, followed by the interest rate spread. The major negative contributors were the twelve-month percentage change in the composite leading business cycle indicator of South Africa’s major trading-partner countries, as well as the twelve-month percentage change in job advertisement space.
The composite coincident business cycle indicator increased by 0,8 per cent in February 2011 compared with the preceding month. The coincident indicator has now increased for six consecutive months up to February 2011.
The composite lagging business cycle indicator increased by 1,1 per cent in February 2011 compared with the preceding month. Despite the pick-up in February, the lagging indicator has been following a downward trend since reaching its most recent peak in November 2008.
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