By Leith van Onselen
The Australian Bureau of Statistics (ABS) this morning released the Lending Finance data for January, which registered a nice bounce in the value of personal and lease financing commitments, although commercial financing commitments registered a small fall:
In seasonally adjusted terms, the value of personal finance commitments rose 4.3% in January, although it remains below the peak levels reached in 2010:
Lease financing commitments also bounced, up 9.4% in the month, and appears to be in a bit of an uptrend. However, it too remains fairly low by recent historical standards, and adjusted for population growth:
Finally, the value of commercial finance commitments remains in the doldrums, falling a further -1.1% in the month:
The housing finance data for the month of January was reported seperately on Tuesday (see here), in aggregate it appears that the lifeblood of our economy, housing and business finance, is not flowing well at all.
