Australia plunges towards outright deleveraging

Friday, 29 November 2019

The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of October 2019:

A chart showing the long-run breakdown in the components is provided below showing broad-based weakness:

A long-run breakdown of owner-occupied credit (0.44% MoM; 1.26% QoQ; 4.79% YoY) and investor credit (-0.02% MoM; -0.19% QoQ; -0.18% YoY) is provided below:

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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.