The ABS this morning released Lending Finance data for the month of October, which registered solid seasonally-adjusted rise in commercial finance but falls in all other categories:
In seasonally-adjusted terms, the value of personal finance commitments fell by 0.9% and down by -5.0% over the year:
The value of lease finance commitments also fell, down -6.3% over the month, but have increased by 27.0% over the past year:
The value of housing finance commitments fell by -0.2% in October, but is up 4.1% over the year:
Bucking the trend was commercial finance, which rose by 4.8% in October, but are down -10.6% over the year, well below pre-GFC highs:
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.
