S.Africa June credit growth quickens to 8.72 pct y/y MyZA

JOHANNESBURG, July 30 (Reuters) – Growth in credit demand by
South Africa’s private sector quickened to 8.72 percent
year-on-year in June compared with an 8.31 percent rise in May,
central bank data showed on Monday.

Growth in the broadly defined M3 measure of money supply
also accelerated to 6.99 percent year-on-year after a slightly
revised 6.43 percent increase in May.

Economists surveyed by Reuters forecast year-on-year private
sector credit growth of 8.35 percent in June while M3 was seen
expanding by 6.4 percent.

(Reporting by Stella Mapenzauswa; Editing by Vuyani Ndaba)