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Lending to the private sector in Australia increased by 0.4% in June, lower than the previous value of 0.5%. In annual terms, this figure decreased from 6.7% in May to 6.5% in June.
The report on private sector lending, published by the Reserve Bank of Australia, reflects the amount of funds borrowed by Australian private sector. It shows whether the private sector can afford large expenses that will support economic growth. This figure is considered an indicator of business conditions and economic situation in Australia as a whole.
Housing loans increased in June by 0.5% after the credit growth in May by 0.4%. On an annualized basis, + 6.9%.
Personal loans decreased 0.1% in June and 1.1% in annual terms.
Business loans, though increased by + 0.3%, the rate was lower than the previous value of + 0.8%.