Johannesburg - The central bank’s monthly economic indicator nudged higher for the third month in November, rising by 0.6% month-on-month to 132.2 after another slight increase in October, the South African Reserve Bank said on Tuesday.
The indicator collates data such as business confidence, job advertisements and the volume of manufacturing orders to gauge the economic outlook, and has been soft but gradually picking up in 2011.
The major positive contributors to the movement in the leading indicator in November were the Bureau for Economic Research's average hours worked per factory worker in the manufacturing sector and the number of residential building plans passed.
The largest negative contribution came from the composite leading business cycle indicator of SA's major trading partner countries, followed by change in the number of passenger vehicles sold.
The indicator collates data such as business confidence, job advertisements and the volume of manufacturing orders to gauge the economic outlook, and has been soft but gradually picking up in 2011.
The major positive contributors to the movement in the leading indicator in November were the Bureau for Economic Research's average hours worked per factory worker in the manufacturing sector and the number of residential building plans passed.
The largest negative contribution came from the composite leading business cycle indicator of SA's major trading partner countries, followed by change in the number of passenger vehicles sold.