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Financial News: South Africa Leading Index Rises Further In February

South Africa Leading Index Rises Further In February

04/25/2017 - 04:15:00 (RTTNews)

(RTTNews) - South Africa's leading index strengthened for the seventh successive month in February, data from the South African Reserve Bank showed Tuesday.

The composite leading indicator rose by 1.1 percent monthly to 98.0 in February from 96.9 in January.

On an annual basis, the index climbed at a faster rate of 6.4 percent in February, following a 4.9 percent gain in the prior month.

Out of the ten components, six contributed positively to the headline index in February, while four decreased.

The largest positive contributions to the movement in the composite leading indicator in February resulted from an increase in the South African produced export commodity price index, followed by an acceleration in the the number of residential building plans passed, the bank reported.

The coincident index that reflects the current economic activity dropped slightly to 117.2 in January from 117.4 in December. At the same time, the lagging index edged up from 96.9 to 97.0.

Annually, the coincident index went up 0.5 percent in January, while the lagging index slid by 1.9 percent.

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