Key points from Australia's private sector credit for October

By Sophia Rodrigues

Published On 29 Nov 2019 , 12:00 AM

Key points from Australia's private sector credit growth for October, published by the RBA Friday.
--Business credit growth fell 0.1% m/m, first decline since Jan 2017. In y/y terms, business credit rose 2.7%, lowest rate of growth since April 2014 when it posted similar rise.
--Total credit growth rose 0.1% m/m, taking the y/y growth to 2.5% -- the lowest since April 2010.
--Other personal credit fell 4.7% y/y, the lowest since September 2009.
--Housing credit rose 3.0% y/y, the lowest on record.
--Investment housing credit fell 0.2% y/y, the biggest drop on record. To put into context, the biggest gain on record for investor mortgage is 39.9%.

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