The ABS this morning released Lending Finance data for the month of June, which recorded a decent rise in personal and commercial finance commitments:
In seasonally-adjusted terms, personal finance rose by 1.9% to be up 3.9% over the year:
Similarly, commercial finance rose by 2.3% in June and is up 1.8% over the year, but remains well below pre-GFC highs:
The one area to suffer falls over the month was lease finance, where the value of commitments fell -2.9% in seasonally-adjusted terms. They remain, however, in a strong uptrend, having risen by 45% over the past year:
Finally, while the value of owner-occupier housing finance rose by 1.2% in June, more importantly, the number of commitments (excluding refinancings) rose by 2.0% (see last week’s post).
Twitter: Leith van Onselen. Leith is the Chief Economist of Macro Investor, Australia’s independent investment newsletter covering trades, stocks, property and yield. Click for a free 21 day trial.
