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Credit Demand Rises

| News by Staff Reporter

Beating economists’ expectations by 0,6%

Growth in demand for credit by SA’s private sector was seen to quicken to 6,06% year-on-year in August, beating economists’ expectations by 0,6%.

According to data released today (Thursday 29 September) by the central bank growth in credit demand by South Africa’s private sector accelerated, more than expected, to 6,06% year-on-year in August from 5,65% in July.

The broadly defined M3 measure of money supply was seen to increase to 6,22% year-on-year in August from 5,59% in July.

Economists had predicted South African private sector credit demand to be at 5,46% year-on-year in August while growth in the M3 measure of money supply was seen at 5,45 % year-on-year.

Source: www.bizpremises.co.za