The South African Reserve Bank’s composite leading business cycle indicator, a strong gauge of where the economic growth cycle is headed, was up 0.7% on a month-to-month basis in December. The indicator increased to 96.3 points from 95.6 in November. The increase suggests a slightly better growth outlook for SA. The Bank attributed the growth to acceleration in composite leading business cycle indicator for SA’s major trading partners and also an increase in the locally produced export commodity price index. The Bank said on Tuesday that six of the nine component time series that were available for December had increased, while three had decreased. The Bank said that the largest negative contributions in December came from a deceleration in the 12-month percentage change in job advertisement space, as well as a decrease in the average number of hours worked in the manufacturing sector. The indicator collects data, including vehicle sales, job advertisements, business confidence and ...
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