Johannesburg - SA's composite leading business economic
indicator fell for the fifth consecutive time by 1.7 % year on year (y/y) in
May‚ after a 1.8% y/y decline in April‚ data released on Tuesday by the South
African Reserve Bank (Sarb) showed.
The Sarb said the composite leading business cycle indicator
decreased by 0.9% in May 2012 compared with the preceding month.
Seven of the 11 component time series that were available
for May decreased‚ while three increased‚ and one remained unchanged‚ the
Reserve Bank reported.
The country's seasonally adjusted leading economic indicator
provides a guideline for economic growth for at least six months ahead. The
latest reading takes the indicator to an index level of 130.8‚ compared with
131.9 in April.
The indicator collates data such as vehicle sales, job
advertisements, business confidence and money supply to gauge the economic
outlook.