Private sector credit in Australia unexpectedly declined by 0.1 percent month-over-month in May 2020, after showing no growth in the previous month and missing market expectations of a 0.2 percent growth. This marked the first monthly drop in private credit since July last year, amid ongoing COVID-19 crisis that led to business shutdowns. There were decreases in credit for both personal (-1.2 percent vs -3.2 percent in April) and business (-0.6 percent vs 0.2 percent). Meantime, housing credit was unchanged (at 0.2 percent). Through the year to May, private sector credit grew by 3.2 percent.

Private Sector Credit in Australia averaged 0.85 percent from 1976 until 2020, reaching an all time high of 3 percent in July of 1986 and a record low of -0.50 percent in July of 2019. This page provides the latest reported value for - Australia Private Sector Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Private Sector Credit - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Reserve Bank of Australia

Private Sector Credit in Australia is expected to be 0.30 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 2021 and 0.50 percent in 2022, according to our econometric models.

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Australia Private Sector Credit

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.00 3.00 -0.50 1976 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-29 01:30 AM Private Sector Credit YoY Apr 3.6% 3.6% 3.8%
2020-05-29 01:30 AM Private Sector Credit MoM Apr 0.0% 1.1% 1.3%
2020-06-30 01:30 AM Private Sector Credit YoY May 3.2% 3.6% 3.8%
2020-06-30 01:30 AM Private Sector Credit MoM May -0.1% 0.0% 0.2% 0.1%
2020-07-31 01:30 AM Private Sector Credit MoM Jun -0.1% 0.3%
2020-08-31 01:30 AM Private Sector Credit MoM Jul
2020-08-31 01:30 AM Private Sector Credit YoY Jul
2020-09-30 01:30 AM Private Sector Credit YoY Aug


News Stream
Australia Private Credit Unexpectedly Falls in May
Private sector credit in Australia unexpectedly declined by 0.1 percent month-over-month in May 2020, after showing no growth in the previous month and missing market expectations of a 0.2 percent growth. This marked the first monthly drop in private credit since July last year, amid ongoing COVID-19 crisis that led to business shutdowns. There were decreases in credit for both personal (-1.2 percent vs -3.2 percent in April) and business (-0.6 percent vs 0.2 percent). Meantime, housing credit was unchanged (at 0.2 percent). Through the year to May, private sector credit grew by 3.2 percent.
2020-06-30
Australia Private Credit Flat in April
Private sector credit in Australia was flat on the month in April 2020, after a 1.1 percent growth in the previous month. Housing credit was little changed (0.2 percent vs 0.3 percent in March), amid a sluggish credit for business (0.1 percent vs 3.1 percent). At the same time, personal credit dropped much faster (-3 percent vs -1.4 percent). Through the year to April, private sector credit grew by 3.6 percent.
2020-05-29
Australia Private Sector Credit Rises the Most in Over a Decade
Private sector credit in Australia rose by 1.1 percent month-over-month in March 2020, accelerating from a 0.4 percent gain in the previous month. This marked the highest growth rate in private sector credit since September 2008, boosted by a pickup in business credit (2.9 percent vs 0.9 percent in February) and a rise in housing credit (0.3 percent, the same as in February). In contrast, personal credit fell faster (-1.4 percent vs -0.5 percent). Through the year to March 2020, private sector credit grew by 3.6 percent.
2020-04-30
Australia Private Credit Beats Expectations
Private sector credit in Australia rose by 0.4 percent month-over-month in February 2020, the same as an upwardly revised figure in the previous month and beating market consensus of 0.2 percent. This remained the highest growth rate in private sector credit since June 2018, supported by further rises in both housing credit (0.3 percent vs 0.3 percent in January) and business (0.9 percent vs 0.6 percent). Meanwhile, personal credit continued to fall (-0.5 percent vs -0.6 percent). On an annual basis, private sector credit grew by 2.8 percent in February, following a 2.5 percent rise in January.
2020-03-31

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.