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Credit growth chokes

Friday, 29 June 2018

More on APRA’s May bank lending from Damien Boey at Credit Suisse:

“Surprisingly” weak credit growth in May

According to APRA, loan balances across banks rose by a meagre 0.2% in May. The data are not seasonally-adjusted, and history suggests that in May, the seasonal factor is around 0.1%. In other words, seasonally-adjusted loan balances rose by 0.1%.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. 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.