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Financial News: Australia Private Sector Credit Rises Less Than Expected

Australia Private Sector Credit Rises Less Than Expected

03/30/2017 - 23:43:00 (RTTNews)

(RTTNews) - Total credit to the private sector in Australia increased at a slower-than-expected pace in February, the Reserve Bank of Australia said on Friday.

Private sector credit rose a seasonally adjusted 0.3 percent month-over-month in February, after 0.2 percent climb in January. That was below the 0.5 percent rise expected by economists.

On a yearly basis, credit grew 5.0 percent in February compared to a 6.6 percent spike in the same month of 2016.

Individually, housing credit added 0.6 percent over the month and 6.4 percent annually in February. At the same time, personal credit dropped 0.1 percent monthly and by 1.3 percent, year-over-year.

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