South Africa Leading Index Rises In June

(RTTNews) - South Africa's composite leading index improved for the first time in three months in June, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 0.4 percent month-on-month to 125.2 in June from 124.7 in May.

Compared to a year ago, there was a decline of 4.3 percent versus a fall of 8.5 percent in May.

In June, five of the nine available component time series increased, while the remaining four decreased, the survey said.

The largest positive contributors were an increase in the number of residential building plans approved and an acceleration in the six-month smoothed growth rate in new passenger vehicle sales.

Meanwhile, the coincident index dropped slightly to 97.1 from 97.4.

The lagging indicator managed to rise 0.3 percent monthly to 95.6 in June from 95.2 in the prior month.