Private sector credit in Australia rose by 0.5 percent month-over-month in November 2022, the same pace as a downwardly revised figure a month earlier. The latest result remained the softest growth in private sector credit since October 2021, amid rising borrowing costs and high inflation. Credit growth was unchanged for both housing (at 0.4 percent) and personal use (at 0.2 percent) while business credit rose slightly less than in October (0.7 percent vs 0.8 percent). Through the year to November, private credit expanded 8.9 percent. source: Reserve Bank of Australia
Private Sector Credit in Australia averaged 0.83 percent from 1976 until 2022, 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. 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 January of 2023.
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. In the long-term, the Australia Private Sector Credit is projected to trend around 0.10 percent in 2024 and 0.30 percent in 2025, according to our econometric models.