SA credit demand unexpectedly softens in October

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October marked the fourth consecutive month of overall credit growth in SA, but the contraction in corporate credit extension sped to 2% year on year 🔒

Demand for private-sector credit unexpectedly softened in October, serving as further confirmation SA's cautious businesses are more interested in reducing debt than betting on future growth during a pandemic.

Private-sector credit extension rose 1.3% year on year in October, versus the 1.7% growth expected by economists, and representing a slowdown from September's 1.6%...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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