Growth in demand for credit by South Africa’s private sector slowed to 3,4% year-on-year in July, from 3,98% in June, central bank data showed on Monday.
During the same period, growth in the broadly defined M3 measure of money supply braked to 5,78%, compared with a revised 6,07% previously.
A Reuters poll forecast that private sector credit growth would come in at 3,45% in July, while the annual growth in M3 was seen at 5,70%. — Reuters