South Africa Leading Index Improves In July

(RTTNews) - South Africa's composite leading index strengthened for the second straight month in July, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 0.9 percent month-on-month to 113.7 in July from 112.7 in June.

Compared to a year ago, the index rose 1.2 percent, versus an increase of 0.3 percent in the prior month.

In July, seven of the ten available component time series outweighed decreases in the other three components, the survey said.

The largest positive contributors were an increase in South Africa's US dollar denominated export commodity price index and an acceleration in the six-month smoothed growth rate in the number of new passenger vehicles sold.

Data showed that the coincident index rose to 96.6 in June from 96.3 in May.