Private sector credit in Australia rose by 0.1 percent month-over-month in November 2019, the same as in the previous month and below market expectations of a 0.3 percent advance. Housing credit growth eased (0.2 percent vs 0.3 percent in October), while credit for personal use fell further (-0.5 percent vs -0.6 percent). Meanwhile, business credit picked up 0.2 percent, after being unchanged in the previous month. Through the year to November, private sector credit grew by 2.3 percent, the least since April 2010. Private Sector Credit in Australia averaged 0.86 percent from 1976 until 2019, reaching an all time high of 2.90 percent in July of 1986 and a record low of -0.50 percent in July of 1992. source: Reserve Bank of Australia

Private Sector Credit in Australia is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Private Sector Credit in Australia to stand at 0.40 in 12 months time. In the long-term, the Australia Private Sector Credit is projected to trend around 0.60 percent in 2020, according to our econometric models.

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Australia Private Sector Credit

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.10 2.90 -0.50 1976 - 2019 percent Monthly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-11-29 12:30 AM Private Sector Credit YoY Oct 2.5% 2.7% 2.8%
2019-11-29 12:30 AM Private Sector Credit MoM Oct 0.1% 0.2% 0.3% 0.1%
2019-12-23 12:30 AM Private Sector Credit MoM Nov 0.1% 0.1% 0.3% 0.1%
2019-12-23 12:30 AM Private Sector Credit YoY Nov 2.3% 2.5% 2.6%
2020-01-31 12:30 AM Private Sector Credit MoM Dec 0.1% 2.8%


News Stream
2019-11-29
Australia Private Sector Credit Rises the Least in 4 Months
Private sector credit in Australia rose by 0.1 percent month-over-month in October 2019, after a 0.2 percent growth in the previous month and missing market expectations of a 0.3 percent rise. This was the weakest increase in private sector credit since June, as business credit dropped (-0.1 percent vs 0.4 percent in September). Meantime, credit for personal use fell 0.6 percent, less than a 0.7 percent decrease in the prior month; and housing credit growth accelerated (0.3 percent vs 0.2 percent). Through the year to October, private sector credit grew by 2.5 percent.

2019-10-31
Australia Private Credit Growth Steady in September
Private sector credit in Australia rose by 0.2 percent month-over-month in September 2019, the same pace as in the previous month and in line with market expectations. Housing credit growth was unchanged (at 0.2 percent), amid a faster rise in business credit (0.4 percent vs 0.3 percent in August) and a further fall in credit for personal use (-0.7 percent vs -0.5 percent). Through the year to September, private sector credit grew by 2.7 percent.

2019-09-30
Australia Private Sector Credit Rises Less than Estimated
Private sector credit in Australia rose by 0.2 percent month-over-month in August 2019, the same pace as in the previous month and below market expectations of 0.3 percent. Business credit growth was unchanged (at 0.2 percent), on the back of a slowdown in housing credit (0.2 percent vs 0.3 percent in July), and a decline in credit for personal use (-0.2 percent, the same as in July). Through the year to August, private sector credit increased 2.9 percent.

2019-08-30
Australia Private Sector Credit Rises 0.2% MoM in July
Private sector credit in Australia rose by 0.2 percent month-over-month in July 2019, after a 0.1 percent increase in the previous month and matching market consensus. Housing credit advanced 0.3 percent, following a 0.2 percent gain in June and credit for business went up 0.2 percent, after a flat reading. On the other hand, credit for personal use declined further (-0.4 percent vs -0.3 percent). Through the year to July, private sector credit increased 3.1 percent.

2019-07-31
Australia Private Credit Growth Below Consensus
Private sector credit in Australia rose by 0.1 percent month-over-month in June 2019, missing market consensus of 0.3 percent and remaining the weakest growth rate since June 2016. Housing credit growth was unchanged at 0.2 percent, while declines were seen in credit for both personal use (-0.2 percent vs -0.6 percent) and business (-0.1 percent vs flat reading). Through the year to June, private sector credit advanced 3.3 percent.

2019-06-28
Australia Private Credit Growth Steady at 0.2% MoM
Private sector credit in Australia rose by 0.2 percent month-over-month in May 2019, the same pace as in the previous month and matching market estimates. A further rise in housing credit growth (0.2 percent vs 0.3 percent in April) and a small rebound in business credit (0.1 percent vs a flat reading) offset a faster drop in credit for other personal use (-0.6 percent vs -0.3 percent). Compared to the same month of the prior year, private sector credit advanced 3.6 percent.


Australia Private Sector Credit
In Australia, private sector credit refers to the month-over-month change of credit extended to the economy's private sector for housing, personal and business expenditures. It includes securitisations.

Australia Consumer Last Previous Highest Lowest Unit
Consumer Confidence 95.10 97.00 123.94 64.61 points [+]
Retail Sales MoM 0.90 0.10 8.10 -10.60 percent [+]
Retail Sales YoY 2.90 2.70 12.70 1.90 percent [+]
Consumer Spending 267716.00 267420.00 267716.00 33846.00 AUD Million [+]
Disposable Personal Income 320300.00 310782.00 320300.00 3103.00 AUD Million [+]
Personal Savings 4.80 2.30 20.40 -1.90 percent [+]
Consumer Credit 2925.66 2915.94 2925.66 35.83 AUD Billion [+]
Private Sector Credit 0.10 0.10 2.90 -0.50 percent [+]
Gasoline Prices 1.02 1.04 1.67 0.46 USD/Liter [+]
Households Debt To GDP 119.30 119.40 122.00 34.20 percent of GDP [+]
Bank Lending Rate 7.92 7.92 20.50 7.92 percent [+]
Consumer Confidence Current Conditions 102.19 99.24 131.41 70.47 [+]
Consumer Confidence Economic Expectations 92.87 94.23 127.29 59.25 [+]
Consumer Confidence Financial Expectations 98.41 102.77 124.40 79.00 [+]
Consumer Confidence Major Purchases Expectations 122.03 117.09 154.86 71.04 [+]