South African Leading Index Improves In January

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

The composite leading index rose 0.9 percent month-on-month to 114.4 in January from 113.3 in December.

Compared to a year ago, the index climbed 3.4 percent, versus an increase of 2.1 percent in the prior month.

In January, four of the ten available component time series outweighed decreases in five component time series, while one component time series remained unchanged, the survey said.

The largest positive contributors were acceleration in the six-month smoothed growth rate in the number of new passenger vehicles sold and an increase in the number of residential building plans approved.

Data showed that the coincident index held steady at 96.4 in December, while the lagging indicator dropped slightly to 107.2 in December from 107.3 in the previous month.