S. Africa Nov. M3 Money Supply Growth Slows

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Thursday, the South African Reserve Bank said in a report that the M3 money supply increased 0.58% year-on-year in November, slower than the 2.67% growth in the previous month. Economists expected an increase of 0.5%.

At the same time, the M2 money supply dropped 1.04%, slowing from 0.87% growth in the preceding month. However, the M1 money supply growth rate was 2.52%, up from 1.53% in October.

Meanwhile, claims on the domestic private sector or PSCE declined 1.59% annually in November, compared to a 0.42% fall in the previous month. Economists had expected a decline of 1.5%.

Thursday, the South African Reserve Bank said in a report that the M3 money supply increased 0.58% year-on-year in November, slower than the 2.67% growth in the previous month. Economists expected an increase of 0.5%. (Market News Provided by RTTNews)