South Africa's leading economic index increased modestly from the previous month in March, data from a survey by the South African Reserve Bank showed Tuesday.
The leading economic index advanced to 134.5 in March from 134.4 in February. In January, the reading was 132.9. Five of the ten components of the index improved during the month, while the remaining five decreased.
Major positive contributions to the leading index came from an acceleration in the twelve-month percentage change in job advertisement space, followed by an acceleration in the twelve-month percentage change in the composite leading business cycle indicator of South Africa's major trading-partner countries, data showed.
At the same time, the coincident index for the month of February, which measures the current situation, rose to 155.4 from 154.5 in January. The lagging index, meanwhile, dropped to 103.4 in February from 103.9 in the previous month, data showed.
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