South Africa Leading Index Falls In August

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

The leading indicator fell to 103.8 in August from 103.9 in July. In June, the score was 103.2.

Over the past 12 months, the index fell 1.3 percent in August after a 1.5 percent decline in the preceding month.

Five of the ten components decreased in August, while the remaining five increased, the central bank said.

The biggest negative contributions came from a decrease in the export commodity price index and in the BER’s Business Confidence Index, the SARB said.

The largest positive contributions came from an acceleration in the number of residential building plans approved and a widening in the interest rate spread.

The coincident indicator fell to 105.4 in July from 105.8 in June.

The lagging index decreased to 94.7 in July from 94.8 in the prior month.

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