SA's economy getting weaker month by month
South Africa's economy is getting weaker according to Business Report, which says figures released by the South African Reserve Bank show that the composite business cycle indicator dropped from 134,53 in February to 131,89 in April.
The index was down by 1,1% month-on-month and by 1,8% year-on-year. It says the only positive contributors to the index were the number of new passenger cars sold and the number of advertisements for jobs.
T
he Reserve Bank says nine of the other components were negative, including business confidence indices, building plans passed and the average number of hours worked per factory worker along with commodity and share prices.
Read the full article on www.iol.co.za.