South Africa’s leading index weakened for the second straight month in April, data from the South African Reserve Bank showed Tuesday.
The composite leading index fell to 105.9 in April from 106.2 in March.
Out of the ten components, six contributed negatively to the headline index in April, while remaining four increased.
The largest negative contributions to the movement in the composite leading business cycle indicator in April resulted from a deceleration in the twelve-month percentage change in job advertisement space and a decrease in the BER’s Business Confidence Index.
On a yearly basis, growth in leading index accelerated to 4.1 percent in April from 3.0 percent in the prior month.
The coincident index that reflects the current economic activity edged up to 102.5 in March from 102.3 in February. Meanwhile, the lagging index decreased to 94.6 from 95.2.
Yearly, the coincident index increased 0.5 percent in March, while the lagging index slid by 3.8 percent.