Mortgage growth weakened into virus bust

Tuesday 31 March 2020

The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of February 2020:

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

In particular, the flow of personal credit fell 5.3% year-on-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.