Australia Private sector credit for August

+0.6% m/m

  • expected +0.5%
  • prior was +0.6%

+6.3% y/y

  • expected +6.2%
  • prior was +6.1%

-

  • Housing credit +0.6% m/m (prior +0.6% also) and +6.3% y/y (prior +5.1%)
  • Business credit +0.5% m/m (prior +0.6%) and +5.3% y/y (prior +3.2%)
  • M3 +6.4% y/y (prior +8.1%)
  • Broad money +6.5% y/y (prior +8.1%)

The y/y gain for business credit is a positive for the economy, though it did slow a little on the m/m