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Johannesburg - The
South African Reserve Bank's business cycle indicator fell by 0.4% in April
compared with the previous month, the bank said on Tuesday.
The indicator is at 133.8 - lower than the revised 134.4 (135.0) seen in March, but higher than the 131.5 of April 2010.
Six of 11 sub-components making up the headline index
contributed to the decrease while five increased, the bank said.
"The major negative contributors to the movement in
the leading indicator in April were the number of residential building plans
passed, and the twelve-month percentage change in the composite leading
business cycle indicator of South Africa's major trading partner
countries."
The indicator is a forward-looking index that collates
data such as job advertisements and volume of manufacturing orders to gauge the
economic outlook.
The central bank has left the repo rate steady this year, after reducing it by 650 basis points to 5.5% between December 2008 and December 2010.
