Financial News: South Africa Private Sector Credit Growth Weakens

South Africa Private Sector Credit Growth Weakens

12/31/2024 - 03:51:00 (RTTNews)

(RTTNews) - South Africa's private sector credit posted its weakest growth in five months in November, data from the South African Reserve Bank showed on Tuesday.

Claims on the domestic private sector increased 4.16 percent on a yearly basis, slower than the 4.26 percent growth seen in October. This was the weakest rise in four months.

Further, data showed that M3 broad money supply logged a growth of 7.77 percent in November compared to a 7.79 percent rise seen a month ago.

At the same time, growth in M1 eased sharply to 3.57 percent from 9.25 percent in October.

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