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Financial News: South Africa Leading Index Improves In April

South Africa Leading Index Improves In April

06/25/2024 - 06:46:00 (RTTNews)

(RTTNews) - South Africa's composite leading index strengthened in April after easing in the previous month, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 2.4 percent month-on-month to 113.0 in April from 110.4 in March.

Compared to a year ago, the index climbed 1.8 percent, versus a fall of 1.3 percent in the prior month.

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

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

Data showed that the coincident index dropped to 91.5 in March from 91.8 a month ago.

Meanwhile, the lagging indicator fell to 104.4 in March from 106.1 in the previous month.

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