South Africa's private sector credit grew at a faster pace and exceeded economists' expectations in April, data published by South African Reserve Bank revealed Thursday.
Claims on the domestic private sector increased 9.13 percent year-on-year, following the 7.85 percent rise in March. The rate was faster than the 8.8 percent rise forecast by economists.
The annual growth in M3 money supply accelerated to 9.98 percent from 8.07 percent in the previous month. This figure also exceeded the consensus forecast of 9.2 percent.
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