South Africa Leading Index Rises In July

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South Africa’s leading index increased in July, survey data from the South African Reserve Bank showed on Tuesday.

The leading index rose 2.6 percent to 99.9 in July from 97.3 in June.

Eight of the ten components increased in July, while two decreased from the previous month, the central bank said.

The biggest positive contributions to the movement in the composite leading business cycle indicator in July were increases in the number of residential building plans approved and in the RMB/BER Business Confidence Index, the bank said.

The negative contributors came from deceleration in the six-month smoothed growth rate in the real M1 money supply and in the twelve-month percentage change in job advertisement space.

The coincident index fell to 71.3 in June from 68.8 in May.

The lagging index rose to 98.0 in June from 96.0 in the prior month.

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