South Africa Leading Index Falls In May

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

The composite leading index dropped 1.0 percent month-on-month to 111.9 in May from 113.0 in April.

Compared to a year ago, the index climbed 2.0 percent, versus an increase of 1.8 percent in the prior month.

In May, seven out of ten of the component time series decreased, while the remaining three strengthened, the survey said.

The largest negative contributors were a decrease in the number of residential building plans approved and a deceleration in the six-month smoothed growth rate in job advertisement space.

Data showed that the coincident index rose to 92.3 in April from 91.3 a month ago.

Similarly, the lagging indicator climbed to 106.8 in April from 105.2 in the previous month.