https://www.engineeringnews.co.za

Reserve Bank’s leading business cycle indicator up 1.1% in February

25th April 2017

By: African News Agency

  

Font size: - +

The South African Reserve Bank said on Tuesday its composite leading business cycle indicator increased by 1.1% on a month-to-month basis in February 2017.

“Six of the ten component time series that were available for February 2017 increased, while four decreased,” the bank said.

“The largest positive contributions to the movement in the composite leading indicator in February resulted from an increase in the South African produced export commodity price index (US dollar based), followed by an acceleration in the number of residential building plans passed.”

The central bank listed the biggest negative contributions to the indicator in February as a slowdown in the six-month smoothed growth rate in the real M1 money supply, as well as a decrease in the average number of hours worked in the manufacturing sector and a drop in new car sales.

The indicator is seen as a projection of the country’s economic growth for the year ahead and the February increase supports forecasts from economists that growth could reach 1.1% in 2017.

Edited by African News Agency

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.105 0.171s - 137pq - 2rq
Subscribe Now