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South Africa Leading Index Highest In Five Months

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South Africa’s composite leading index increased in January to the highest level in five months, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 1.0 percent month-on-month to 127.3 in January from 126.0 in December. The latest reading was the highest since August.

Compared to a year ago, the increase was 5.8 percent versus 4.1 percent in the previous month.

Among the ten available components, four decreased and the remaining six increased.

The largest contribution came from increases in the US dollar-denominated export commodity price index and in the number of residential building plans approved.

The coincident index rose to 95.0 in December from 94.2 in November.

The lagging indicator rose 0.9 percent monthly to 93.0 in December from 92.9 in the prior month.

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