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South Africa Leading Index Rises In February

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

The leading index rose to 103.0 in February from 102.9 in January.

Four of the nine components increased in February, while five decreased from the previous month, the central bank said.

The largest positive contributions came from an increase in the US dollar-denominated South African export commodity price index and a widening in the interest rate spread, the bank said.

The largest negative contributions came from a decline in the BER's Business Confidence Index and a decrease in the average number of hours worked in the manufacturing sector.

The coincident index rose to 102.6 in January from 102.3 in December.

The lagging index fell to 94.6 in January from 95.3 in the prior month.

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