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South Africa Leading Index Improves In November


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South Africa’s composite leading index improved marginally in November, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 0.1 percent month-on-month to 123.1 in December from 123.0 in November.

Compared to a year ago, the index declined 2.8 percent versus a fall of 1.9 percent in November.

In December, four of the ten available components increased, five components decreased, while one remained unchanged, the survey said.

The largest positive contributors were a rise in the six-month smoothed growth rate in the number of new passenger vehicles sold and an increase in the volume of orders in manufacturing.

The coincident index weakened to 97.5 in October from 98.2 in September.

The lagging indicator climbed to 98.4 in October from 96.8 in the prior month.

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