South Africa's credit surge 5.5% in October

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Source: Bloomberg
© Scanpix/AP

South Africa's credit market soared by 5.5% in October compared to previous year. The growth is 0.2 percentage points lower than economists surveyed by Bloomberg predicted. Lower-than-expected increase in crediting reflects concerns about European debt crisis, forcing businesses and consumers to borrow less while banks are struggling to meet regulatory requirements. 

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