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South Africa Leading Index Declines In January

South Africa's leading index fell in January, survey data from the South African Reserve Bank showed on Tuesday.

The leading index fell to 103.5 in January from 103.8 in December.

Six of the ten components decreased in January while four increased, the central bank said.

The largest negative contributions came from a deceleration in the twelve-month percentage change in job advertisement space and a decline in the BER's Business Confidence Index, SARB said.

The largest positive contributions came from an increase in the US dollar-denominated South African export commodity price index and an acceleration in the six-month smoothed growth rate in the real M1 money supply.

The coincident index decreased to 102.3 in December from 103.6 in the previous month.

The lagging index fell to 95.3 in December from 95.6 in the prior month.

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