Credit growth to private sector eases in October
Data came in lower than expected, dragged down by fewer extensions in investment and bills, and other loans and advances
Private sector credit growth eased in October, coming in below expectations, mainly as a result of lower advances in investment and bills and other loans and advances.
Credit extended to the SA private sector rose by 9.34% year on year, according to the Reserve Bank. That is down from 9.74% in September when it defied expectations to increase at the fastest pace in seven years as consumers battling the cost-of-living crisis tapped their credit cards and drew down their overdrafts...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.