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South Africa Leading Index Falls In December

South Africa’s leading index fell in December after rising in the preceding month, survey data from the South African Reserve Bank showed on Tuesday.

The leading index fell to 104.4 in December from 104.7 in November. In October, the reading was 104.1.

Three of the nine components increased in December, while six decreased, the central bank said.

The largest positive contributions came from an increase in the US dollar-based South African export commodity price index and an acceleration in the twelvemonth percentage change in the number of new passenger vehicles sold, the SARB said.

The largest negative contributions came from a decrease in the number of residential building plans approved and a decrease in the average number of hours worked in the manufacturing sector.

The coincident index increased to 103.6 in November from 104.1 in the previous month.

The lagging index decreased to 96.4 in November from 96.2 in the prior month.

The material has been provided by InstaForex Company – www.instaforex.com