South Africa Leading Index Rises In November

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

The composite leading index rose 0.6 percent month-on-month to 114.7 in November from 114.1 in October.

Compared to a year ago, the index climbed 2.4 percent, versus an increase of 1.9 percent in the prior month.

In November, five out of ten of the component time series strengthened, while four declined and one 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 improvement in the RMB/BER Business Confidence Index.

Data showed that the coincident index rose to 96.8 in October from 96.3 a month ago, and the lagging indicator climbed to 109.5 in October from 108.9 in the previous month.