The local economy has shown signs of improvement in March 2026.

This is shown in the composite leading business cycle indicator (BCI) for March.

The South African Reserve Bank released the March BCI showing a 2.4 % increase in that month on a month-on-month basis.

The leading business cycle indicator provides early signals of the direction in which real economic activity is moving, in real-time.

Increases in six of the seven available component time series outweighed the decrease in the composite leading business cycle indicator for the country’s major trading-partner countries.

The largest positive contributors were an acceleration in the six-month smoothed growth rate in the real M1 money supply and a widening of the interest rate spread.

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