South Africa Leading Index Weakens In October

(RTTNews) - South Africa's composite leading index weakened in October after rising in the previous month, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index fell 0.9 percent month-on-month to 123.0 in November from 124.1 in September.

Compared to a year ago, the index declined 1.9 percent versus a fall of 1.1 percent in September.

In November, six of the ten available components decreased, while the remaining three increased, the survey said.

The biggest negative contributors were a decline in the six-month smoothed growth rate of job advertisement space and new passenger vehicle sales.

The coincident index improved to 98.2 in September from 97.9 in August.

The lagging indicator advanced to 96.8 in September from 95.5 in the prior month.