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Financial News: Australia's Private Sector Credit Rises As Expected

Australia's Private Sector Credit Rises As Expected

05/31/2018 - 01:19:00 (RTTNews)

(RTTNews) - Australia's private sector credit increased as expected in April, data from the Reserve Bank of Australia showed Thursday.

Private sector credit climbed a seasonally adjusted 0.4 percent month-over-month in April, following a 0.5 percent rise in March.

On an annual basis, credit advanced 4.9 percent in April.

Individually, housing credit added 0.4 percent over the month and 6.0 percent annually in April. At the same time, personal credit dropped 0.3 percent on monthly basis and slid 1.2 percent from last year.

Another report from the Australian Bureau of Statistics showed that total new private capital expenditure rose a seasonally adjusted 0.4 percent sequentially in the first quarter, after a 0.2 percent increase in the previous quarter.

However, it was slower than the 1.0 percent rise economists had forecast.

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