South Africa’s Economic Outlook Under Pressure as Key Indicator Falls for Third Month

South Africa’s economic outlook has come under fresh pressure after the country’s leading business-cycle indicator declined for the third consecutive month.

The South African Reserve Bank’s indicator fell by 1.4% in June, pointing to weaker economic conditions ahead.

Analysts have linked the decline to factors including weaker commodity prices and pressure on domestic economic activity.

The indicator is closely watched because it can provide an early signal about the direction of the economy.

Despite the latest figures, South Africa’s currency has remained relatively firm against some major currencies.

The new data will increase attention on government efforts to stimulate economic growth, attract investment and create jobs.