SARB: Composite business cycle indicators for South Africa

26 Jul.

Composite business cycle indicators for South Africa.

• The composite leading business cycle indicator decreased by 1,6 per cent in May 2011 compared with the preceding month. Ten of the eleven component time series that were available for May 2011 decreased, while one increased. The major negative contributors to the movement in the leading indicator in May were the number of residential building plans passed and the six-month smoothed growth rate in the real M1 money supply. The only positive contribution came from the twelve-month percentage change in the composite leading business cycle indicator of South Africa’s major trading-partner countries.
• The composite coincident business cycle indicator increased by 0,1 per cent in April 2011 compared with the preceding month – its eighth consecutive monthly increase.
• The composite lagging business cycle indicator decreased by 0,2 per cent in April 2011 compared with the preceding month.

Press release

Business cycle indicators data