The ABS this morning released Lending Finance data for the month of July, which registered a mixed result:
In seasonally-adjusted terms, personal finance rose by 0.1% to be up 4.4% over the year:
Lease finance commitments also rose – up 3.4% over the month – and remains in a strong uptrend, having risen by 45% over the past year:
By contrast, commercial finance fell by -5.0% in July and is down -9.15% over the year, well below pre-GFC highs:
Finally, while the value of owner-occupier housing finance fell by -1.4% in July, more importantly, the number of commitments (excluding refinancings) fell by -0.3% (see yesterday’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.