South Africa Leading Index Rises In October

(RTTNews) - South Africa's composite leading index improved further in October, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index climbed 1.1 percent month-on-month to 114.0 in October from 112.8 in September.

Compared to a year ago, the index rose 1.8 percent, versus an increase of 1.6 percent in the prior month.

In October, eight out of ten of the component time series strengthened, while the remaining two declined, the survey said.

The largest positive contributors were accelerations in the six-month smoothed growth rates in the number of new passenger vehicles sold and job advertisement space.

Data showed that the coincident index rose slightly to 96.3 in September from 96.2 a month ago.

Meanwhile, the lagging indicator dropped to 108.9 in September from 109.5 in the previous month.