Australian banksAustralian EconomyAustralian Property

Australia’s creditless recovery

David Llewellyn-Smith
Monday 30 November 2020
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Via RBA credit aggregates:

The table below presents a summary of the latest financial aggregates statistics.

Financial Aggregates
Percentage change
Monthly Year-ended
September 2020 October 2020 October 2019 October 2020
Total credit 0.0 0.0 2.4 1.8
– Housing 0.4 0.3 2.9 3.3
– Personal −1.0 −0.7 −4.7 −12.7
– Business −0.4 −0.3 2.7 1.4
Broad money 0.9 0.7 4.1 12.1

Sources: ABS; APRA; RBA

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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.