Economic activity falls the most in 13 months in August
Slump in Reserve Bank’s composite leading business cycle indicator led by decline in the number of residential building plans approved and a narrowing of the interest rate spread
25 October 2022 - 15:16
Economic activity decreased for a second straight month in August — and the most in 13 months, Reserve Bank data shows.
The Bank’s composite leading business cycle indicator, which offers a projection of SA’s economic growth cycle for the next 6-12 months, decreased by 2.3% on a monthly basis, and by 3.0% year on year. Nine of the 10 available component time series were lower...
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