Lending finance lifted in September

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By Leith van Onselen

The ABS this morning released Lending Finance data for the month of September, which registered solid seasonally-adjusted rises across all categories:

In seasonally-adjusted terms, the value of personal finance commitments rose by 2.6% and were up 4.2% over the year:

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The value of lease finance commitments also rose – up 10.1% over the month – and have increased by 34.7% over the past year:

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The value of commercial finance rose by 6.9% in September, but are down -6.2% over the year, well below pre-GFC highs:

And as highlighted yesterday, the value of housing finance commitments rose by 1.5% in September and is up 4.4% over the year:

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So it looks like the RBA’s -1.50% of cuts to interest rates over the past year are finally having an effect.

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.

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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.