Big turn for consumers with lower debt

Private sector credit extensions saw a modest increase in August, reflecting expectations of a rate cut. According to statistics released by the South African Reserve Bank, credit extension in the household sector rose in all categories with overdrafts, instalment sale credit and mortgage advances experiencing substantial rises. Business sector credit extensions were more pronounced in overdrafts, mortgage advances and general loans and advances. SABC economics reporter Nosipho Radebe has the details. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.