FX.co ★ South Africa Private Sector Credit Growth Weakens

Private sector credit in South Africa experienced its most modest growth in five months in November, according to recent statistics released by the South African Reserve Bank on Tuesday.

Annual increases in claims on the domestic private sector stood at 4.16 percent, marking a deceleration from the 4.26 percent recorded in October, and representing the slowest growth observed in four months.

Additionally, the data indicated a growth rate of 7.77 percent in the M3 broad money supply in November, slightly down from the 7.79 percent reported in the previous month.

Meanwhile, growth in M1 saw a notable decline, dropping sharply to 3.57 percent from 9.25 percent in October.