Johannesburg - Growth in credit demand by South Africa's
private sector quickened to 7.33% year-on-year (y/y) in January compared with a
downwardly revised 6.14% rise in December, central bank data showed on
Wednesday.
Growth in the broadly defined M3 measure of money supply
slowed to 6.58% y/y from 8.27% in December.
Economists surveyed by Reuters forecast y/y private sector credit growth of 6.99% in January, while M3 was seen expanding by 8.6%.