Weakest private credit growth since GFC

30 October 2020

 

Summary: Private sector credit barely grows in September; “weakest for private sector credit since GFC”; steady growth in owner-occupier segment again offset by falls in business loans, personal debt.   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...

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