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Increased Demand for Credit| News by Staff Reporter
According to Central Bank data released on Wednesday
South Africa’s private sector showed an increase in demand for credit in January 2012, the central bank said on Wednesday.
According to central bank data released on Wednesday growth in credit demand by South Africa’s private sector quickened to 7,33% year-on-year in January compared with a downwardly revised 6,14% rise in December.
Growth in the broadly defined M3 measure of money supply was seen to slow by 1,69% year-on-year from 8,27% in December to 6,58%.
Economists had forecast year-on-year growth of 6,99% in January, while the M3 measure of money supply was seen expanding 8,6%.