South Africa's private sector credit rose by 7.19 percent from a year earlier in July 2019, following a downwardly revised 6.88 percent advance in the previous month and compared to market expectations of 7.15 percent. Meantime, expansion in the broadly defined M3 measure of money supply increased 8.28 percent in July, after a 8.99 percent rise in June and below consensus of 9 percent. Private Sector Credit in South Africa averaged 13.69 percent from 1966 until 2019, 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.
Private Sector Credit in South Africa is expected to be 6.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Private Sector Credit in South Africa to stand at 5.40 in 12 months time. In the long-term, the South Africa Private Sector Credit is projected to trend around 5.20 percent in 2020, according to our econometric models.