2017.02.2102:53:00UTC+00South Africa Leading Index Rises Further In December

South Africa's leading index increased for the fifth straight month in December, data from the South African Reserve Bank showed Tuesday.

The composite leading indicator rose to 96.3 in December from 95.6 in the previous month.

On an annual basis, the index climbed at a faster rate of 3.7 percent in December, after a 2.6 percent rise in November.

Out of the nine components, six contributed positively to the headline index in December, while three decreased.

In December, the largest positive contribution came from an acceleration in the twelve-month percentage change in the composite leading business cycle indicator of South Africa's major trading-partner countries, followed by an increase in the South African produced export commodity price index, the bank said.

The coincident index that reflects the current economic activity dropped to 116.5 in November from 116.8 in October. Meanwhile, the lagging index increased to 98.5 from 98.0.

Annually, the coincident index went up 0.6 percent in November, while the lagging indicator slid by 2.7 percent.