South African Leading Index Falls In May

(RTTNews) - South Africa's composite leading index decreased for the second straight month in May, survey data from the South African Reserve Bank showed on Tuesday.

The composite leading index dropped 1.3 percent month-on-month to 111.3 in May from 112.7 in April.

Compared to a year ago, the index dropped 0.7 percent, versus a fall of 0.1 percent in the prior month.

In May, nine of the ten available component time series decreased, the survey said.

The largest negative contributors were decreases in the number of residential building plans approved and the volume of domestic orders received in the manufacturing sector.

Data showed that the coincident index rose to 95.2 in April from 94.5 in March.