South Africa's Oct credit growth up at 5.52pc y/y

JOHANNESBURG: Growth in credit demand by South Africa's private sector was less than expected at 5.52 percent year-on-year in October from a slightly revised 5.42 percent rise in September, central bank data showed on Tuesday.

But growth in the broadly defined M3 measure of money supply quickened to 7.26 percent year-on-year compared with 6.8 percent in September.

Economists surveyed by Reuters last week forecast private sector credit expansion of 5.62 percent year-on-year in October while growth in M3 was seen at 6.7 percent.