South Africa’s private sector credit growth slowed unexpectedly in February, after accelerating in the previous month, figures from the South African Central Bank showed Monday.

Claims on the domestic private sector rose a seasonally adjusted 8.67 percent year-on-year in February, slower than January’s 9.15 percent growth. Economists had expected a 9.2 percent increase for the month.

Total loans and advances grew at a slower pace of 7.93 percent annually in February after a 8.26 percent rise in the preceding month.

At the same time, M3 money supply increased at a faster-than-expected pace in February. It climbed 8.12 percent yearly in February, exceeding economists expectations for a 7.5 percent growth. In January, money supply had risen 7.35 percent.

The material has been provided by InstaForex Company –