South African Leading Index Strengthens In March

(RTTNews) - South Africa's composite leading index improved in March to the highest level in more than three years, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index rose 1.1 percent month-on-month to 115.4 in March from 114.1 in February.

Further, this was the highest reading since November 2022, when it was 115.7.

Compared to a year ago, the index climbed 4.1 percent, versus an increase of 2.4 percent in the prior month.

In March, five of the seven available component time series increased, while the remaining two decreased, the survey said.

The largest positive contributors were acceleration in the six-month smoothed growth rate in the real M1 money supply and an increase in the number of residential building plans approved.

Data showed that the coincident index dropped to 94.7 in February from 95.1 in January.