South African Leading Index Falls In December

(RTTNews) - South Africa's composite leading index decreased for the first time in four months in December, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index dropped 1.8 percent month-on-month to 112.8 in December from 114.8 in November.

Compared to a year ago, the index climbed 1.6 percent, versus an increase of 2.5 percent in the prior month.

In December, five out of the seven available components of the time series weakened, while one strengthened and one remained unchanged, the survey said.

The largest negative contributors were a deceleration in the six-month smoothed growth rate in the number of new passenger vehicles sold and a decrease in the number of residential building plans approved.

Data showed that the coincident index dropped slightly to 96.5 in November from 96.6 a month ago, while the lagging indicator climbed to 109.9 in November from 109.5 in the previous month.