The latest data released by the South African Reserve Bank indicates a continued improvement in South Africa's composite leading index for October. The index registered a 1.1 percent month-on-month increase, rising from 112.8 in September to 114.0. On an annual basis, the index saw a growth of 1.8 percent, compared to a 1.6 percent gain in the prior month.
In October, eight out of the ten component time series experienced growth, while two showed a decline. The most significant contributors to the positive trend were increases in the six-month smoothed growth rates of new passenger vehicle sales and job advertisement space.
The data also revealed a slight uptick in the coincident index, which edged up to 96.3 in September from 96.2 the previous month. Conversely, the lagging indicator experienced a decrease, falling to 108.9 in September from 109.5 in August.
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