Fin24

SA credit growth quickens to 8.72%

2012-07-30 08:21

Johannesburg - Growth in credit demand by South Africa’s private sector quickened to 8.72% year-on-year in June compared with an 8.31% rise in May, central bank data showed on Monday.

Growth in the broadly defined M3 measure of money supply also accelerated to 6.99% year-on-year after a slightly revised 6.43% increase in May.

Economists surveyed by Reuters forecast year-on-year private sector credit growth of 8.35% in June while M3 was seen expanding by 6.4%.

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