Corporate confidence drives unexpected credit growth in September

SA’s private sector credit growth was up 4.6% year on year in September, exceeding market expectations

​SA’s private sector credit growth was up 4.6% year on year in September, exceeding market expectations   

The growth of SA’s private sector credit extension (PSCE) eased slightly in September but remained stronger than expected on the back of firm corporate demand. However, low household credit growth suggests consumers are still under pressure. 

SA’s PSCE increased by 4.6% year on year in September, after recording a 5% year-on-year increase in the prior month — its highest increase in one year. This exceeded Bloomberg’s consensus forecast of 4%. ..

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