24.04.201806:38:00UTC+00South Africa Leading Index Highest Since Jun 2011

South Africa's leading index strengthened for the second straight month in February to the highest level in more than six-and-a-half years, data from the South African Reserve Bank showed Tuesday.

The composite leading index climbed to 108.3 in February from 106.8 in January.

Moreover, this was the highest reading since June 2011, when it marked the same 108.3.

Out of the ten components, five contributed positively to the headline index in January, while remaining five decreased.

The largest positive contributions to the movement in the composite leading business cycle indicator in February came from an increase in the number of residential building plans passed and a rise in the BER's Business Confidence Index.

On a yearly basis, growth in leading index accelerated to 3.6 percent in February from 2.9 percent in January.

Meanwhile, the coincident index that reflects the current economic activity dropped to 103.1 in January from 103.5 in December. The lagging index dropped to 93.5 from 94.4.

Yearly, the coincident index increased 1.5 percent in February, while the lagging index decreased by 3.8 percent.