South Africa's credit growth quickens to 8.16 pct in August

An electronic board displaying movements in major indices is seen at Johannesburg stock exchange in Sandton September 23, 2008. REUTERS/Siphiwe Sibeko

JOHANNESBURG (Reuters) - Growth in credit demand from South Africa's private sector accelerated to 8.16 percent year-on-year in August from 7.41 percent in July, central bank data showed on Monday. Expansion in the broadly defined M3 measure of money supply slowed to 6.9 percent from 7.36 percent. Economists surveyed by Reuters had expected credit growth to slow to 7.3 percent while money supply growth was seen at 7.35 percent.