Lower private sector credit growth in November 2020

The Bank of Jamaica (BOJ) says private sector credit recorded lower growth in November last year.
Loans and advances expanded by 11.5 per cent which was below the growth of 12.2 per cent in September. 
Relative to GDP, the stock of private sector loans in November was 45.4 per cent compared with 38.8 per cent a year earlier.
Given the deceleration in the expansion of loans and advances, BOJ says the improvement in the ratio was largely attributed to a slower growth in GDP.

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