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Financial News: South Africa Leading Index Rises At Slower Pace

South Africa Leading Index Rises At Slower Pace

01/26/2021 - 03:25:00 (RTTNews)

(RTTNews) - South Africa's composite leading index rose at a slower pace in November, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 1 percent month-on-month to 114.5 from 113.4 in October. Compared to a year ago, the increase was 9.8 percent versus 9.2 percent in the previous month.

Among the ten available components, increases in five outweighed decreases in the remaining five.

The largest contribution came from an improvement in the RMB/BER Business Confidence Index and an increase in the US dollar-denominated South African export commodity price index.

The coincident index increased further by 1.0 percent month-to-month basis 88.8 in October.

The lagging indicator edged up 0.2 percent monthly to 88.9 in October.

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