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.