S. Africa's Private Sector Credit Growth Improves In November

South Africa’s private sector credit growth improved in November, the South African Reserve Bank said Thursday.

Claims on the domestic private sector increased 9.53 percent year-on-year in November, faster than the 8.87 percent expansion registered in October and an 8.55 percent rise forecast by economists.

Total loans and advances gained 8.94 percent after rising 8.34 percent a month ago.

Meanwhile, annual growth in M3 slowed to 9.35 percent from 9.74 percent in October. It was expected to climb 9.5 percent. Likewise, M2 rose 8.34 percent, slower than October’s 8.9 percent increase.

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