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Financial News: Australia Private Sector Credit Rises More Than Forecast

Australia Private Sector Credit Rises More Than Forecast

04/30/2018 - 00:44:00 (RTTNews)

(RTTNews) - Australia's private sector credit increased at a faster-than-expected pace in March, data from the Reserve Bank of Australia showed Monday.

Private sector credit climbed a seasonally adjusted 0.5 percent month-over-month in March, the same rate of rise as in the previous two months.

That was just above the 0.4 percent increase economists had forecast.

On an annual basis, credit advanced 5.1 percent in March.

Individually, housing credit added 0.5 percent over the month and 6.1 percent annually in March. At the same time, personal credit dropped 0.1 percent on monthly basis and slid 1.0 percent from last year.

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