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Financial News: South Africa Leading Index Rises In August

South Africa Leading Index Rises In August

10/26/2021 - 03:27:00 (RTTNews)

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

The composite leading index rose 0.7 percent month-on-month to 127.9 in August from 127.0 in July. Compared to a year ago, the increase was 14.9 percent versus 19.0 percent in the previous month.

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

The largest contribution came from an accelerations in the six-month smoothed growth rate in the number of new passenger vehicles sold and the six-month smoothed growth rate of job advertisement space.

The coincident index fell to 92.6 in July from 95.6 in June.

The lagging indicator fell 1.6 percent monthly to 84.2 in July from 85.6 in the prior month.

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