South African Leading Index Falls In December

(RTTNews) - South Africa's composite leading index decreased for the first time in three months in December, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index dropped 1.0 percent month-on-month to 117.2 in December from 118.4 in November.

Compared to a year ago, the index climbed 3.9 percent, versus an increase of 3.3 percent in the prior month.

In December, five out of seven of the component time series weakened, while the remaining two increased, the survey said.

The largest negative contributors were a deceleration in the six-month smoothed growth rate in the real M1 money supply and a decrease in the number of residential building plans approved.

Data showed that the coincident index decreased to 95.7 in November from 95.9 a month ago, and the lagging indicator declined somewhat to 107.4 in November from 107.5 in the previous month.