Reserve Bank indicator points to mild growth but government spending remains an issue
Biggest contributors were an increase in the average hours worked per factory worker in the manufacturing sector and an improvement in the RMB/BER Business Confidence Index
24 October 2023 - 19:34
The Reserve Bank’s six-month gauge measuring economic performance posted a third month of expansion in August, pointing to a mild improvement in economic activity ahead of the medium-term budget policy statement (MTBPS) on November 1.
The composite leading business cycle indicator, which offers a projection of SA’s economic growth cycle for the next six to 12 months, rose by 0.4% in August after a 0.1% increase in the previous month, the Bank said on Tuesday...
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