South Africa’s credit growth quickens to 5,52% in October

Growth in credit demand by SA's private sector was less than expected at 5,52% year-on-year in October from a slightly revised 5,42% rise in September, SA Reserve Bank data showed on Tuesday.

But growth in the broadly defined M3 measure of money supply quickened to 7,26% year-on-year compared with 6,8% in September.

Economists surveyed by Reuters last week forecast private sector credit expansion of 5,62% year-on-year in October while growth in M3 was seen at 6,7%.

 

Credits: PHUMZA MACANDA/Business Day

 

This article was originally posted on Sustainable Development Africa Platform

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