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Credit Demand Slows
| News by Staff ReporterCredit demand in September fell to 5,47% year-on-year
Growth in credit demand by the private sector was seen to slow to 5,47% year-on-year in September from 6,06% in August, according to the central bank.Over the same period growth in the broadly defined M3 measure of money supply accelerated by 0,58 of a percentage point to 6,8% year-on-year in September, the central bank said on Monday.
Economists had forecast a slowdown in demand for credit by South Africa’s private sector of between 5,7% and 5,9%, while growth in the M3 measure of money supply was expected to fall to 6,55%.
South African household credit also slowed in September, marking its third consecutive month of contraction.
Source: www.bizpremises.co.za
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