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Financial News: South Africa Private Credit Growth Slows For Second

South Africa Private Credit Growth Slows For Second Month

07/29/2019 - 03:48:00 (RTTNews)

(RTTNews) - South Africa's private sector credit growth slowed for a second straight month in June, defying expectations for an improvement, figures from the South African Reserve Bank showed on Monday.

Annual growth in the claims on the domestic private sector eased to 6.91 percent from 7.66 percent in May. Economists had expected 8 percent growth.

The broad money aggregate, M3, grew 8.99 percent annually in June after a 9.07 percent increase in the previous month. Economists were looking for an 8.60 percent gain.

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