February business cycle indicator up

THE South African Reserve Bank said yesterday its composite leading business cycle indicator increased by 1.1 percent on a month-tomonth basis in February. “Six of the 10 component time series that were available for February increased, while four decreased,” the bank said. “The largest positive contributions to the movement in the composite leading indicator in February resulted from an increase in the South African-produced export commodity price index, followed by an acceleration in the number of residential building plans passed.” – ANA