Johannesburg - Growth in credit demand by South Africa’s private sector
accelerated more-than-expected to 8.31% year-on-year in May compared with a
7.33% rise in April, central bank data showed on Friday.
Growth in the M3 measure of money supply rose to 6.45% on a year-on-year basis
from 6.16% in April.
Economists in a Reuters poll had expected credit extension to the private
sector to quicken to 8.0% while money supply was seen easing to 6.0 %.