Credit demand grows at a slower pace in May

Credit demand grows in May, but at a slower pace

Rising inflation and interest rates and weak employment growth will slow private sector credit extension in the medium term as household disposable income becomes eroded.

Economists warn that companies will also remain wary of accelerating capital expenditure aggressively due to electricity shortages, slow progress on structural reforms and ample spare capacity in some industries. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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