The composite leading business cycle indicator in South Africa climbed by 1.6% month-on-month in August 2025, following a 0.9% increase in the previous month. The latest figure marked the strongest expansion since April 2024, as eight of the ten available components contributed positively, led by increased number of residential building plans approved and an acceleration in the six month smooth growth rate in job advertisement space. Meanwhile, the main negative contributions came from a deterioration in the RMB/BER Business Confidence Index and a narrower interest rate spread. At the same time, the composite coincident indicator rose by 0.4% in July, driven by gains in the real value of wholesale, retail and motor trade sales. Meanwhile, the lagging indicator fell by 0.1% in the same month.