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

The leading index rose 1.7 percent to 105.3 in September from 103.6 in August.

Seven among the nine components increased in September, while two declined, the central bank said.

The biggest positive contributions to the movement in the composite leading business cycle indicator in September were the increase in the US dollar-denominated South African export commodity price index and the rise in the twelve-month rate of change in job advertisement space, the bank said.

The largest negative contribution came from a deceleration in the six-month smoothed growth rate in the real M1 money supply and a decrease in the number of new passenger vehicles sold.

The coincident index rose to 84.2 in August from 78.8 in July.

The lagging index fell to 102.4 in August from 103.3 in the prior month.


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