A leading indicator of the South African economy declined for the fourth consecutive month in June, data released by the South African Reserve Bank showed Tuesday.
The composite leading business cycle indicator decreased 1.1 percent sequentially to 129.3 in June, marking the fourth contraction in a row. Year-on-year, the index declined by 4.3 percent during the month, after falling 1.7 percent in the previous month.
Of the seven components for which data is available, three increased during the month with the largest negative contributions coming from a decline in the export commodity price index and a decline in the number of residential building plans passed.
The major positive contributions to the movement in the leading indicator came from an improvement in the average hours worked in the manufacturing sector and an improvement in the volume of orders in the manufacturing sector.
The composite coincident business cycle indicator for May, which measures the current situation, increased by 0.7 percent sequentially to 159.2, the agency said.
Meanwhile, the composite lagging business cycle indicator remained unchanged month-to-month at 105.3 in May.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.