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Financial News: South Africa Leading Index Rises In September

South Africa Leading Index Rises In September

11/21/2017 - 03:21:00 (RTTNews)

(RTTNews) - South Africa's leading index improved in September after falling in the previous month, data from the South African Reserve Bank showed Tuesday.

The composite leading index climbed to 98.4 in September from 97.2 in August.

Out of the nine components, five contributed positively to the headline index in September, while four decreased.

The largest positive contributions resulted from a rise in the number of residential building plans passed, followed by an increase in the South African produced export commodity price index.

On a yearly basis, growth in leading index accelerated to 5.1 percent in September from 4.6 percent in August.

The coincident index that reflects the current economic activity rose to 118.7 in August from 117.7 in July. Meanwhile, the lagging index dropped to 97.5 from 98.2.

Yearly, the coincident index increased 0.8 percent in August and the lagging index edged up by 0.2 percent.

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