Credit aggregates

Investor housing is leading the pack in credit aggregates. Business credit growth sluggish in comparison. The smaller personal credit category also sluggish.

RBA Credit Aggregates

November 2012 Credit Aggregates

Yesterday the RBA served up its credit aggregates for November 2012. From the first two charts we can see that lower interest rates are not translating into significant borrowing growth. The drop-off in the 6-month annualised line is particularly noticeable.

Let's look at that growth rate in its long-term context.

And a more detailed look at the components.

Halloween credit aggregates

It is the last day of the month (how this year has gone by). Which means another round of credit aggregates from the Reserve Bank of Australia. The headline statistic is ongoing but subdued growth (with a flicker of improvement in the month-on-month growth for September).

Credit Aggregates for August 2012

The Reserve Bank of Australia has released the credit aggregates for August 2012.

Credit growth appears to be slowing.

It is slowing in all sectors except investor housing, and even that is pretty flat.

Monthly growth and trend monthly growth charts below highlight the significant slowing in business credit growth in July and August 2012. 

The actual aggregates follow.