South African Leading Index Improves In November

(RTTNews) - South Africa's composite leading index improved for the second straight month in November, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 1.4 percent month-on-month to 118.4 in November from 116.8 in October.

Compared to a year ago, the index climbed 3.3 percent, versus an increase of 2.3 percent in the prior month.

In November, eight out of ten of the component time series strengthened, while the remaining two decreased, the survey said.

The largest positive contributors were accelerations in the six-month smoothed growth rates in the real M1 money supply and job advertisement space.

Data showed that the coincident index rose to 96.4 in October from 96.1 a month ago, while the lagging indicator dropped to 107.5 in October from 107.9 in the previous month.