Lending finance mixed

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The Australian Bureau of Statistics (ABS) has just released the November Lending Finance data, which has delivered a mixed result:

The total value of owner occupied housing commitments excluding alterations and additions (but including refinancings) rose 2.2% in seasonally adjusted terms [see yesterday’s housing finance data release for further information]:

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The seasonally adjusted series for the value of housing alterations and additions (‘renovations’) rose 2.0%:

The seasonally adjusted series for the value of total personal finance commitments fell -7.8% in November 2011, after a 9.9% rise in October 2011:

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The seasonally adjusted series for the value of total commercial finance commitments fell -9.6% in November 2011, after a 15.5% rise in October 2011:

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With the recent uptrend in commercial finance commitments driven by New South Wales:

And the seasonally adjusted series for the value of total lease finance commitments rose 15.1%:

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Overall this data release is a mixed bag, with some components rising solidly and others falling.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.