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South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg.
Economist Dr. Azar Jammine says the South African economy continued to show signs of improvement in October 2025. This is shown in the composite leading Business Cycle Indicator, or BCI, for October.
The South African Reserve Bank released the October BCI showing a 0.4 percent increase in that month.
The leading business cycle indicator provides early signals of the direction in which real economic activity is moving.
Dr. Jammine says this is proof that the economy is turning a corner.
“This improved moderately in the month of October, resuming a gentle upward trend that we have been seeing since the early part of 2024. This is an indicator that the long-term downward trajectory of South Africa’s economic growth that prevailed from around 2012 through to 2024 has turned the corner, and one is starting to see green shoots appearing that appear to suggest that the economy is going to gradually see higher and higher growth over the next few years.”
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