Johannesburg—South Africa’s composite leading business cycle indicator fell 0.9% month-on-month in July, according to data released by the South African Reserve Bank on Tuesday.
The indicator, which tracks a range of economic signals including vehicle sales, business confidence and money supply, is designed to provide an indication of the direction of economic activity in Africa’s largest economy.
The July reading followed a 1.0% decline in June, while the index stood at 118.2, down from 119.3 in June and 120.5 in May.
On an annual basis, growth in the leading indicator slowed sharply to 2.3% in July, compared with 4.5% in June and 6.2% in May.
Key Data
| Indicator | May | June | July |
|---|---|---|---|
| Leading indicator | 120.5 | 119.3 | 118.2 |
| Monthly change | +0.4% | -1.0% | -0.9% |
| 12-month change | +6.2% | +4.5% | +2.3% |
Source: Reuters
Reporting: Nilutpal Timsina & Sfundo Parakozov
Editing: Alexander Winning
