South African Leading Index Improves In August

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

The composite leading index climbed 1.6 percent month-on-month to 115.5 in August from 113.6 in July.

Compared to a year ago, the index climbed 3.6 percent, versus an increase of 1.2 percent in the prior month.

In August, eight out of ten of the component time series increased, while the remaining two weakened, the survey said.

The largest positive contributors were an increase in the number of residential building plans approved and acceleration in the six-month smoothed growth rate in job advertisement space.

Data showed that the coincident index rose to 96.2 in July from 95.8 a month ago.

Similarly, the lagging indicator dropped to 107.1 in July from 107.3 in the previous month.