SA on steady growth course

2011-05-04 00:00

A KEY indicator released by the SA Reserve Bank yesterday points to firmer economic growth over the next six months.

The bank’s leading business cycle indicator was one percent higher month on month and 6,6% higher on an annual basis in February, reaching a level of 136,1 — buoyed by the business confidence index of the Bureau for Economic Research, as well as increased labour hours worked in the manufacturing sector.

The indicator, which increased for the sixth successive month on a month-on-month basis, points to the growth prospects for the economy over the next six months.

The indicator has remained on a cautious but steady upward path since 2009. — BE.


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