South Africa's July credit growth quickens to 9.77 pct year-on-year

South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg January 17, 2013. REUTERS/Siphiwe Sibeko

JOHANNESBURG (Reuters) - Growth in credit demand from South Africa's private sector quickened to 9.77 percent year-on-year in July, from a revised 8.63 percent in June, central bank data showed on Friday. The broadly defined M3 measure of money supply was at 6.86 percent, from a revised 7.26 percent in June. Economists had expected credit growth to quicken to 9.0 percent and money supply to slow to 7.05 percent.