South Africa’s private sector credit rose by 5.87% year-on-year in July 2023, easing from a 6.25% growth in the previous month and less than market forecasts of 6.21%. This marked the 25th consecutive month of growth in the private sector, albeit at a moderate pace since May 2022. Meanwhile, expansion in the broadly defined M3 measure of money supply grew by 9.3% in July, slowing from an 11.15% gain in June and below market forecasts of 10.8%. source: South African Reserve Bank

Private Sector Credit in South Africa averaged 13.08 percent from 1966 until 2023, reaching an all time high of 35.88 percent in July of 1981 and a record low of -2.35 percent in May of 1966. This page provides the latest reported value for - South Africa Private Sector Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Africa Private Sector Credit - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Private Sector Credit in South Africa is expected to be 8.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Private Sector Credit is projected to trend around 6.50 percent in 2024 and 6.00 percent in 2025, according to our econometric models.

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South Africa Private Sector Credit



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-31 06:00 AM Jun 6.25% 6.85% 6.25% 6.1%
2023-08-30 06:00 AM Jul 5.87% 6.25% 6.21% 6.0%
2023-09-29 06:00 AM Aug 5.87%


Related Last Previous Unit Reference
Consumer Spending 3094097.00 3081872.00 ZAR Million Mar 2023
Disposable Personal Income 4412509.00 4356660.00 ZAR Million Mar 2023
Private Sector Credit 5.87 6.25 percent Jul 2023
Bank Lending Rate 11.75 11.75 percent Jul 2023
Households Debt to Income 61.80 66.10 percent Dec 2022

South Africa Private Sector Credit
Private sector credit measures year over year change in the bank lending to domestic private sector.
Actual Previous Highest Lowest Dates Unit Frequency
5.87 6.25 35.88 -2.35 1966 - 2023 percent Monthly

News Stream
South Africa Private Credit Growth Eases Further
South Africa’s private sector credit rose by 5.87% year-on-year in July 2023, easing from a 6.25% growth in the previous month and less than market forecasts of 6.21%. This marked the 25th consecutive month of growth in the private sector, albeit at a moderate pace since May 2022. Meanwhile, expansion in the broadly defined M3 measure of money supply grew by 9.3% in July, slowing from an 11.15% gain in June and below market forecasts of 10.8%.
2023-08-30
South Africa Private Credit Growth at 13-Month Low
South Africa’s private sector credit increased by 6.25% year-on-year in June 2023, matching market forecasts, after a 6.85% growth in the previous month. This marked the 24th consecutive month of growth in the private sector, albeit at a moderate pace since May 2022. Meanwhile, expansion in the broadly defined M3 measure of money supply grew by 11.15% in June, beating market forecasts of a 9.85% gain, and following a 10.3% rise in the previous month.
2023-07-31
South Africa Private Credit Growth at 1-Year Low
South Africa’s private sector credit advanced by 6.85% year-on-year in May 2023, edging lower from market forecasts of 6.95% and April’s 7.07% rise. This marked the 23rd consecutive month of growth in the private sector, albeit at a moderate pace since May 2022. Meanwhile, expansion in the broadly defined M3 measure of money supply grew by 10.3% in May, in line with market forecasts, and following a 10.14% gain in the previous month.
2023-06-30