The Reserve Bank of Australia (RBA) released the monthly Financial Aggregates data this morning, which incorporate private credit (including housing, personal and business lending) and monetary growth (M3 money supply).
Here’s the release, I’ll have the analysis and charts up shortly, the most important thing to note is that housing credit growth is now at a 35 year historic low. Although it is still a “healthy” 5.3% annualised growth, and it saw an uptick in growth in January over December – this is still quite anaemic.
Total credit provided to the private sector by financial intermediaries rose by 0.2 per cent over January 2012, after rising by 0.3 per cent over December. Over the year to January, total credit rose by 3.5 per cent.
Housing credit increased by 0.5 per cent over January, following an increase of 0.4 per cent over December. Over the year to January, housing credit rose by 5.3 per cent.
Other personal credit declined by 0.2 per cent over January, after falling by 0.1 per cent over December. Over the year to January, other personal credit decreased by 1.3 per cent.
Business credit fell by 0.2 per cent over January, after increasing by 0.3 per cent over December. Over the year to January, business credit increased by 1.4 per cent.
Over the month of January, M3 grew by 0.8 per cent and broad money grew by 0.9 per cent. Over the year to January, broad money grew by 7.8 per cent.