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

The composite leading index rose 2.0 percent month-on-month to 116.8 in February from 114.5 in January. Compared to a year ago, the increase was 12.2 percent versus 10.7 percent in the previous month.

Among the ten available components, increases in four outweighed decreases in the remaining six.

The largest contribution came from an acceleration in the 12-month rate of increase in the number of residential building plans approved and an acceleration in the 12-month rate of increase in job advertisement space.

The coincident index increased by 0.1 percent month-to-month basis 92.5 in January from 92.4 in December.

The lagging indicator rose 1.3 percent monthly to 86.0 in January from 87.2 in the prior month.


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