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World

South Africa business indicator falls 1.6pc in May

Published Updated

 JOHANNESBURG: The South African Reserve Bank's composite leading business cycle indicator fell by 1.6% month-on-month in May, as the number of approved residential building plans, job advertisements, vehicle sales and rand value of commodity exports decreased, data showed on Tuesday.

The indicator collects data on vehicle sales, business confidence, money supply and other factors to gauge the outlook for Africa's most industrialised economy.

Copyright Reuters, 2019

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