South African Leading Index Falls In April

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

The composite leading index dropped 0.3 percent month-on-month to 112.8 in April from 113.2 in March.

Compared to a year ago, the index remained flat, versus an increase of 2.1 percent in the prior month.

In April, seven of the ten available component time series decreased, while the remaining three increased, the survey said.

The largest negative contributors were a deceleration in the six-month smoothed growth rate in the real M1 money supply and a decrease in the volume of domestic orders received in the manufacturing sector.

Data showed that the coincident index rose marginally to 95.0 in March from 94.9 in February.