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Financial News: Australia Private Sector Credit Rises As Expected In

Australia Private Sector Credit Rises As Expected In May

06/29/2017 - 23:52:00 (RTTNews)

(RTTNews) - Total credit to the private sector in Australia increased at a steady rate in May, in line with expectations, the Reserve Bank of Australia said on Friday.

Private sector credit climbed a seasonally adjusted 0.4 percent month-over-month in May, the same rate of rise as in April. The figure also matched consensus estimate.

On an annual basis, credit grew 5.0 percent in May compared to a 6.4 percent increase in the same month of 2016.

Individually, housing credit added 0.6 percent over the month and 6.6 percent annually in May. At the same time, personal credit dropped 0.1 percent monthly and by 1.4 percent, yearly.

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