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Financial News: Australia's Lending To Households Rise In April

Australia's Lending To Households Rise In April

06/06/2019 - 23:48:00 (RTTNews)

(RTTNews) - Australia's lending to households increased in April, data from the Australian Bureau of Statistics showed Friday.

The value of new lending commitments to households rose 0.6 percent in April. The rise in new lending to households followed a 3.3 percent fall in March.

Despite increases in the value of some components of household lending in April, total new lending to households fell 15.6 percent from a year ago.

Lending to households for dwellings excluding refinancing gained 0.2 percent. Further, data showed that lending to businesses advanced 11.3 percent from March and by 11.4 percent from the previous year.

The total number of owner occupier loan approvals ex refi declined 1.1 percent on month compared to the forecast of a 0.3 percent decrease.

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