Latest data up to end-July 2021, show that financial conditions have become less tight month-on-month, dropping by 8.2%. The average value of the FCI over the past 12 months was still up 2.2% compared with the average for the previous 12 months, but compared with only the month of July 2020, it was up 24.4%. Owing to the rise in the value of the rand during the past three months and the sharp decline in excess money growth, the average 3m/3m change in the indicator showed a rise of 11.9%.
Subscribers to EasyData can download the complete report in PDF format on www.easydata.co.za.