Private sector credit in Australia rose at a slower rate in November, data from the Reserve Bank of Australia showed Wednesday.
Private sector credit rose 0.5 percent month-over-month in November, faster than October's 0.6 percent increase. This was in line with the consensus estimate.
The pace of increase in housing credit was unchanged at 0.6 percent in November while business credit rose at a slower rate of 0.2 percent. At the same time, personal credit was flat during the month after rising 0.2 percent in the previous month.
On a yearly basis, private sector credit climbed 5.9 percent in November compared to a 3.7 percent increase in the same period last year. Housing credit jumped 7.1 percent year-on-year, business sector advanced 4.6 percent and personal credit was up 1.1 percent.
Meanwhile, broad money was up 0.3 percent month-over-month, with M3 rising 0.4 percent. Annually, broad money climbed 7.4 percent, with the M3 component up 7.6 percent.
The material has been provided by InstaForex Company – www.instaforex.com