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

S. Africa's Private Sector Credit Growth Eases In November

12/31/2019 - 02:13:00 (RTTNews)

(RTTNews) - South Africa's private sector credit grew at a slower pace in November, data from South African Reserve Bank showed on Tuesday.

Claims on the domestic private sector grew 6.6 percent year-on-year in November, slower than the 7.28 percent increase seen in October.

At the same time, the monetary aggregate M3 expanded at a slightly faster rate of 7.35 percent annually, after rising 7.28 percent a month ago. On the other hand, M1 growth slowed to 4.02 percent from 5.85 percent in October, the central bank data revealed.

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