25.07.201705:40:00UTC+00S. Africa's Leading Index Remains Stable In May

South Africa's leading index remained unchanged in May, South African Reserve Bank said Tuesday.

The composite leading index came in at 95.8 in May, unchanged from April. On an annual basis, the indicator advanced 3.9 percent, but slower than April's 4.3 percent rise.

Six of the ten component time series that were available for May decreased while the remainder increased from April.

The largest negative contributions in May came from a deterioration in the BER's Business Confidence Index and a decrease in the South African produced export commodity price index.

Meanwhile, the largest positive contributions to the movement in the leading index resulted from an increase in the number of residential building plans passed, followed by a widening in the interest rate spread.

In April, the coincident index climbed at a faster pace of 0.4 percent annually, following a 0.1 percent rise in March. On month, the index edged up 0.1 percent.

Meanwhile, the lagging index slid 0.6 percent after climbing 1.3 percent in the previous month. Month-on-month, the indicator declined 1.6 percent.