The composite leading business cycle indicator in South Africa rose by 0.4% month-over-month in June 2025, following a 1.3% decline in May. Three of the seven available components contributed positively, led by faster growth in real M1 money supply and higher US dollar–denominated export commodity prices. Meanwhile, the main negative contributions came from a narrower interest rate spread and weaker passenger vehicle sales. At the same time, composite coincident indicator increased by 0.5% in May, supported by higher industrial production and greater utilization of manufacturing capacity. The lagging indicator advanced 1.0% in the same month.