A leading indicator of South Africa's business activity declined in March from a month earlier, a report from the central bank showed Tuesday.
The composite leading business cycle indicator decreased 1.1 percent month-on-month in March. Six of the ten components of the index decreased during the month, while four increased.
According to the report, the largest negative contributions came from decreases in the export commodity price index and in the number of residential building plans passed.
The leading index rose 0.3 percent year-on-year in March following a 0.9 percent gain in the preceding month.
The composite coincident business cycle indicator decreased 0.4 percent month-on-month in February, while the lagging business cycle indicator increased 1 percent.
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