S. Africa M3 Money Supply Growth Eases In June

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Wednesday, the South African Reserve Bank announced that the M3 money supply increased 6.04% year-over-year in June, slower than the 7.86% growth in the previous month. Economists were looking for an increase of 6.8%.

At the same time, the M2 money supply growth eased to 4.86% from 7.74% in May. The M1 money supply increased 1.44%, compared to the 3.53% in May.

Meanwhile, claims on the domestic private sector or PSCE grew 3.98% annually in June, slower than the 5.7% growth in the preceding month. Economists had expected an increase of 4.45%.

Wednesday, the South African Reserve Bank announced that the M3 money supply increased 6.04% year-over-year in June, slower than the 7.86% growth in the previous month. Economists were looking for an increase of 6.8%. (Market News Provided by RTTNews)