APRA has released its monthly banking statistics for March and growth improved slightly on the month to 0.6%, the best score this year:
It is good to see life in the market despite the lure of rising asset prices. Still, the trend towards lower growth is well intact in the year on year chart at 6.9%:
The aggregate total is also showing a slowing trend:
A welcome better month but I do expect growth to continue to fall as interest rates do.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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