SA's credit growth quickens to 8.34%

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IOL economy arrows Filomena Scalise

Johannesburg - Growth in credit demand from South Africa's private sector quickened to 8.34 percent year-on-year in May, from 8.27 percent in April, data from the Reserve Bank showed on Monday.

The broadly defined M3 measure of money supply expanded by 7.59 percent, from 6.98 percent in April.

Economists had expected slower growth of 8.3 percent in credit demand and 6.74 percent in money supply. - Reuters

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