South Africa’s composite leading index increased in March, survey data from the South African Reserve Bank showed on Tuesday.
The composite leading index rose 1.7 percent month-on-month to 121.3 in March from 119.3 in February. Compared to a year ago, the increase was 18.1 percent versus 14.5 percent in the previous month.
Among the ten available components, increases in six outweighed decreases in the remaining three.
The largest contribution came from an acceleration in the 12-month percentage change of the composite leading business cycle indicator for South Africa’s major trading-partner countries and an increase in the US dollar-denominated export commodity price index.
The coincident index remained unchanged at 90.9 in February.
The lagging indicator fell 0.3 percent monthly to 86.0 in February from 86.2 in the prior month.
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