2018.09.2504:00:00UTC+00South Africa's Leading Index Weakens In July

South Africa's leading index decreased in July after improving in the previous month, data from the South African Reserve Bank showed Tuesday.

The composite leading index dropped to 105.4 in July from 106.3 in June.

Out of the ten components, seven contributed negatively to the headline index in July, while the remaining three increased.

The largest negative contributions to the movement in the composite leading business cycle indicator in July resulted from a decrease in the twelvemonth percentage change in job advertisement space and a decrease in the average number of hours worked in the manufacturing sector.

On a yearly basis, growth in leading index eased to 2.0 percent in July from 5.1 percent in June.

Meanwhile, the coincident index that reflects the current economic activity rose to 103.4 in June from 102.9 in May. However, the lagging index fell to 94.1 from 94.3.

Yearly, the coincident index increased 1.2 percent in June, while the lagging index slid by 3.0 percent.