Johannesburg - South Africa's leading economic indicator rose 11.5% year-on-year in October from a 16.3% increase recorded in September, according to South African Reserve Bank (Sarb) data released on Wednesday.
The seasonally adjusted leading economic indicator provides a guideline for economic growth for at least six months ahead.
The latest increase takes the indicator to an index level of 129.8 which, on a trend basis, is higher than the 121.8 index level in December 2009.
Month-on-month growth has returned to negative territory, registering a 0.6% decline from a 0.8% rise in September.
September's index was revised downwards to 130.6 from 131.9
The leading indicator had been over 120 and nearer to 130 for the whole of 2007. However, it slowed substantially when the country went into a recession in late 2008.
The indicator also confirmed a few months ahead that economic growth would decline somewhat in 2010.
The seasonally adjusted leading economic indicator provides a guideline for economic growth for at least six months ahead.
The latest increase takes the indicator to an index level of 129.8 which, on a trend basis, is higher than the 121.8 index level in December 2009.
Month-on-month growth has returned to negative territory, registering a 0.6% decline from a 0.8% rise in September.
September's index was revised downwards to 130.6 from 131.9
The leading indicator had been over 120 and nearer to 130 for the whole of 2007. However, it slowed substantially when the country went into a recession in late 2008.
The indicator also confirmed a few months ahead that economic growth would decline somewhat in 2010.