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Financial News: S. Africa's Private Sector Credit Growth Accelerates

S. Africa's Private Sector Credit Growth Accelerates

12/29/2017 - 01:49:00 (RTTNews)

(RTTNews) - South Africa's private sector growth accelerated in November, figures from South African Reserve Bank showed Friday.

Private sector credit climbed 6.45 percent year-on-year in November, following October's 5.43 percent rise. Economists had forecast a moderate growth of 6.15 percent.

The broad money supply, M3, growth improved to 6.61 percent in November from 5.01 percent in the previous month. The rate also exceeded the expected increase of 5.79 percent.

Meanwhile, the annual growth in the narrow measure, M1, slowed to 5.08 percent from 9.01 percent in October.

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