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Unrest sparks biggest monthly drop in retail sales since first hard lockdown
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Absa PMI plunges to a 14-month low but is expected to rebound
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Vehicle export sales down 33 1%, auto industry loses more than R3bn due to unrest
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Private-sector credit remains constricted
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GROWTH in private-sector loans remained in contractionary territory for the fourth consecutive month in June as corporates reduced taking credit on Covid-19 induced activity.
Data from the SA Reserve Bank (Sarb) yesterday showed private sector credit fell by 0.5 percent year-on-year in June, following a 0.42 percent decline in May.
This decline in private sector credit extension was worse than expected as it missed the market consensus of a 0.4 percent gain.
The Sarb said the decline was primarily due to corporate credit, which has been subdued, recording no monthly growth for the third consecutive month in June.
SA s trade surplus swells to R57bn thanks to commodities boom
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