South Africa M3 Growth Eases In September

South Africa’s money supply and private sector credit growth eased in September, the South Africa Reserve Bank reported Tuesday.

The broad M3 money supply climbed 6.11 percent on a yearly basis in September, following a 7.45 percent increase in August.

Likewise, the annual growth in M1 slowed to 4.13 percent from 5.55 percent seen in the prior month.

Data showed that claims on the domestic private sector advanced 6.19 percent, which was slower than the 6.86 percent expansion seen a month ago. The rate was forecast to rise marginally to 6.9 percent.

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