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Demand for Credit Slows| News by Staff Reporter
Demand for credit slowed by more than expected in April
Growth in credit demand by South Africa’s private sector was seen to slow to 7,33 percent year-on-year in April following a 9,16 percent increase in March.
This is according to the central bank, who said growth in credit demand by South Africa’s private sector braked more than expected in April.
The broadly defined M3 measure of money supply was also seen to slow on a year-on-year basis in April falling from 6,65 percent in March to 6,16 percent in April.
Economists had forecast a slight drop in credit extension to just 9,07 percent year-on-year, while the M3 measure of money supply was expected to quicken to 7,49 percent in April.