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South Africa's leading economic index dropped for a second straight month in August, survey data from the South African Reserve Bank showed on Tuesday.
The leading indicator dropped to 104.9 from 105.4 in July. Seven of the ten components decreased, while the remaining three increased, the central bank said.
The largest negative contributions came from a decrease in the South African produced export commodity price index and a decrease in the average number of hours worked in the manufacturing sector.
The biggest positive contributions came from an acceleration in the twelve-month percentage change in job advertisement space and an acceleration in the six-month smoothed growth rate in the real M1 money supply.
The coincident index fell to 103.1 in July from 103.3 in June.
The lagging index rose to 95 in July from 94.6 in June.
