2017.09.2603:45:00UTC+00South Africa Leading Index Climbs For Second Month

South Africa's leading index improved for the second straight month in July, data from the South African Reserve Bank showed Tuesday.

The composite leading index rose to 97.3 in July from 95.8 in June, which was revised up slightly from 95.7.

Out of the ten components, eight contributed positively to the headline index in July, while two decreased.

The largest positive contributions to the index came from an increase in the number of residential building plans passed, as well as an acceleration in the twelve-month percentage change in job advertisement space.

On a yearly basis, growth in leading index accelerated to 5.6 percent in July from 3.0 percent in June.

The coincident index that reflects the current economic activity dropped to 117.8 in June from 117.9 in May. Meanwhile, the lagging index improved to 99.0 from 98.3.

Yearly, the coincident index edged down at a steady rate of 0.1 percent in June, while the lagging index rose by 1.3 percent.