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S. Africa Credit Growth Slows

S. Africa Credit Growth SlowsS. Africa Credit Growth Slows

South Africa’s private sector credit demand slowed to 8.14% year-on-year in June compared with 9.42% expansion in May, central bank data showed on Wednesday, Reuters reported. Growth in the broadly defined M3 measure of money supply quickened to 8.89% year-on-year in June from an 8.37% increase in May. Meanwhile, South Africa’s private sector credit demand increased to 9.35% year-on-year in April from a revised 8.75% in March, central bank data showed. The broadly defined M3 measure of money supply rose by 8.38% year-on-year in April compared with March’s unrevised figure of 7.42%.

Financialtribune.com