South Africa Unsecured Credit Isn’t a Bubble, Credit Suisse Says
“Although some of the classic signs of a credit bubble are present, we do not believe the situation is unhealthy and that a credit bubble has not built up,” Johannesburg-based Credit Suisse analysts Mervin Naidoo and Dean Ginsberg wrote in a report today.
While South African consumers are under pressure from food prices and fuel costs, shoppers “appear to be moderating discretionary spend to balance consumption with disposable income,” according to the note.
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