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The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of December 2019:
A chart showing the long-run breakdown in the components is provided below showing broad-based weakness:
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In particular, the flow of personal credit continues to fall, falling by 5.1% in the 2019 calendar year.
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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.