First fall in credit growth since 2011

30 June 2020

 

Summary: Private sector credit shrank in May; business lending drops while owner-occupier lending maintained; investor lending goes backwards faster; “further falls” expected.   The pace of lending to the non-bank private sector by financial institutions in Australia has been trending down since October 2015. Private sector credit growth appeared to have stabilised in the September quarter of 2018 but the annual growth rate then continued to deteriorate through to the...

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