Absa economist Miyelani Maluleke warns that a further slowdown in credit extension seems likely
Kicking off the economics calendar this week is the release of private sector credit extension data for June on Monday.
Private sector credit cooled to a three-month low as poor economic growth prospects and the tight job market continue to depress business and consumer confidence, Reserve Bank data showed. The 6.8% growth in May, from April’s 7.1%, was in line with market expectations, with the slowdown in credit demand mainly driven by a fall in both household and corporate lending growth....
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